Immix Biopharma (NASDAQ:IMMX) Releases Quarterly Earnings Results

Immix Biopharma (NASDAQ:IMMX) announced its earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04), FiscalAI reports.

Immix Biopharma Stock Performance

IMMX traded down $0.78 during trading on Thursday, hitting $9.54. 649,084 shares of the stock were exchanged, compared to its average volume of 721,657. Immix Biopharma has a 1 year low of $1.87 and a 1 year high of $11.61. The firm has a 50 day simple moving average of $9.34 and a 200 day simple moving average of $6.65. The firm has a market cap of $505.72 million, a price-to-earnings ratio of -10.72 and a beta of 0.12.

Analyst Upgrades and Downgrades

Several brokerages have commented on IMMX. HC Wainwright upped their price objective on Immix Biopharma from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Citizens Jmp reissued a “market outperform” rating and set a $23.00 target price on shares of Immix Biopharma in a research note on Friday, March 27th. Mizuho upped their price target on shares of Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Morgan Stanley began coverage on shares of Immix Biopharma in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Immix Biopharma currently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Institutional Trading of Immix Biopharma

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Immix Biopharma by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 730,162 shares of the company’s stock worth $1,526,000 after acquiring an additional 31,625 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Immix Biopharma by 1,102.8% during the fourth quarter. Renaissance Technologies LLC now owns 258,600 shares of the company’s stock worth $1,352,000 after buying an additional 237,100 shares during the period. Jane Street Group LLC increased its holdings in shares of Immix Biopharma by 1,016.4% in the 4th quarter. Jane Street Group LLC now owns 167,132 shares of the company’s stock valued at $874,000 after acquiring an additional 152,162 shares during the period. J. Goldman & Co LP bought a new position in shares of Immix Biopharma in the 4th quarter worth $619,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Immix Biopharma in the 4th quarter worth $391,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

Immix Biopharma Company Profile

Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.

The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.