Immix Biopharma (NASDAQ:IMMX) Trading Up 11.4% – Should You Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s stock price traded up 11.4% during trading on Tuesday . The stock traded as high as $11.25 and last traded at $11.6370. 953,418 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 1,133,501 shares. The stock had previously closed at $10.45.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley assumed coverage on Immix Biopharma in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 price target on the stock. Wall Street Zen downgraded Immix Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. Citizens Jmp reissued a “market outperform” rating and set a $23.00 target price on shares of Immix Biopharma in a research report on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Tuesday, April 21st. Finally, Lifesci Capital assumed coverage on Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price target for the company. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Immix Biopharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Immix Biopharma Price Performance

The firm has a market cap of $643.34 million, a price-to-earnings ratio of -12.84 and a beta of 0.09. The stock has a 50-day moving average price of $9.24 and a 200 day moving average price of $8.10.

Immix Biopharma (NASDAQ:IMMX) last announced its earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. As a group, equities research analysts predict that Immix Biopharma, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Immix Biopharma

A number of hedge funds have recently modified their holdings of IMMX. Bank of America Corp DE grew its position in shares of Immix Biopharma by 256,968.8% during the first quarter. Bank of America Corp DE now owns 41,131 shares of the company’s stock worth $375,000 after acquiring an additional 41,115 shares during the last quarter. Janus Henderson Group PLC raised its position in Immix Biopharma by 22.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock valued at $43,698,000 after purchasing an additional 880,434 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Immix Biopharma during the 1st quarter worth $264,000. Sei Investments Co. boosted its stake in Immix Biopharma by 100.0% during the 1st quarter. Sei Investments Co. now owns 147,140 shares of the company’s stock worth $1,340,000 after purchasing an additional 73,570 shares during the period. Finally, LGT Fund Management Co Ltd. grew its position in Immix Biopharma by 233.3% during the 1st quarter. LGT Fund Management Co Ltd. now owns 416,594 shares of the company’s stock worth $3,795,000 after purchasing an additional 291,594 shares during the last quarter. 11.26% of the stock is currently 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.