Immix Biopharma, Inc. (NASDAQ:IMMX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $22.86.

A number of equities analysts have recently weighed in on the stock. Bank of America started coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They issued a “buy” rating and a $27.00 price target on the stock. Lifesci Capital assumed coverage on Immix Biopharma in a report on Wednesday, June 17th. They set an “outperform” rating and a $19.00 price objective on the stock. Needham & Company LLC started coverage on Immix Biopharma in a report on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 target price for the company. Citigroup reiterated a “market outperform” rating on shares of Immix Biopharma in a report on Friday, August 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th.

Immix Biopharma Stock Performance

NASDAQ IMMX opened at $11.70 on Friday. Immix Biopharma has a 1 year low of $1.98 and a 1 year high of $15.10. The business’s fifty day moving average is $11.55 and its two-hundred day moving average is $10.21. The stock has a market capitalization of $837.02 million, a P/E ratio of -13.30 and a beta of 0.20.

Immix Biopharma (NASDAQ:IMMX) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). On average, research analysts forecast that Immix Biopharma will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Immix Biopharma

Several hedge funds have recently made changes to their positions in IMMX. Jupiter Topco LLC acquired a new position in shares of Immix Biopharma in the 2nd quarter valued at $100,816,000. Janus Henderson Group PLC increased its stake in Immix Biopharma by 22.5% in the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock valued at $43,698,000 after acquiring an additional 880,434 shares during the period. BlackRock Inc. bought a new stake in Immix Biopharma in the second quarter valued at about $30,827,000. Eventide Asset Management LLC acquired a new position in Immix Biopharma in the fourth quarter worth about $13,331,000. Finally, Opaleye Management Inc. bought a new position in Immix Biopharma during the second quarter worth about $24,177,000. Institutional investors own 11.26% of the company’s stock.

About Immix Biopharma

Immix Biopharma, Inc (NASDAQ: IMMX) is a clinical-stage biopharmaceutical company developing cell therapies for cancer and autoimmune diseases. The company focuses on treatments designed to target disease-associated cells and address serious conditions with limited therapeutic options.

Its lead product candidate is NXC-201, an autologous chimeric antigen receptor T-cell (CAR-T) therapy targeting B-cell maturation antigen (BCMA). NXC-201 is being investigated for relapsed or refractory AL amyloidosis and multiple myeloma, two diseases involving abnormal plasma cells.