Immix Biopharma (NASDAQ:IMMX) Hits New 12-Month High – Here’s Why

Immix Biopharma, Inc. (NASDAQ:IMMX)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.98 and last traded at $10.7350, with a volume of 370660 shares. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

IMMX has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Immix Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday. Mizuho initiated coverage on shares of Immix Biopharma in a report on Monday, February 9th. They set an “outperform” rating and a $14.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a research note on Thursday, January 22nd. Finally, Citizens Jmp initiated coverage on shares of Immix Biopharma in a research note on Monday, March 9th. They issued an “outperform” rating and a $23.00 target price for the company. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Immix Biopharma Trading Up 6.9%

The stock has a market cap of $565.88 million, a P/E ratio of -13.90 and a beta of 0.25. The business’s fifty day simple moving average is $6.87 and its 200 day simple moving average is $4.78.

Hedge Funds Weigh In On Immix Biopharma

Hedge funds have recently added to or reduced their stakes in the company. Kera Capital Partners Inc. bought a new stake in Immix Biopharma during the 4th quarter worth about $68,000. Virtu Financial LLC acquired a new stake in shares of Immix Biopharma during the 4th quarter worth approximately $386,000. KVP Capital Advisors LP bought a new stake in shares of Immix Biopharma during the fourth quarter worth approximately $1,205,000. XTX Topco Ltd raised its stake in shares of Immix Biopharma by 32.0% during the fourth quarter. XTX Topco Ltd now owns 46,394 shares of the company’s stock worth $243,000 after buying an additional 11,241 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Immix Biopharma in the fourth quarter valued at approximately $116,000. Institutional investors own 11.26% of the company’s stock.

About Immix Biopharma

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.