Immix Biopharma (NASDAQ:IMMX) Reaches New 12-Month High – What’s Next?

Immix Biopharma, Inc. (NASDAQ:IMMX) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $12.14 and last traded at $12.02, with a volume of 4237988 shares traded. The stock had previously closed at $10.45.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IMMX. Wall Street Zen lowered shares of Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. HC Wainwright lifted their price objective on Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a research report on Tuesday, April 21st. Citigroup initiated coverage on Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating for the company. Finally, Lifesci Capital began coverage on Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 target price on the stock. Seven 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Immix Biopharma Stock Up 15.0%

The firm has a market cap of $654.01 million, a price-to-earnings ratio of -13.07 and a beta of 0.09. The stock’s 50-day moving average price is $9.28 and its 200 day moving average price is $8.15.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. On average, research analysts predict that Immix Biopharma, Inc. will post -0.69 EPS for the current year.

Institutional Trading of Immix Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position 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 worth $43,698,000 after purchasing an additional 880,434 shares in the last quarter. Eventide Asset Management LLC bought a new stake in shares of Immix Biopharma in the 4th quarter valued at approximately $13,331,000. Marshall Wace LLP raised its holdings in shares of Immix Biopharma by 3,495.4% in the 4th quarter. Marshall Wace LLP now owns 1,978,743 shares of the company’s stock worth $10,349,000 after buying an additional 1,923,708 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Immix Biopharma in the 4th quarter worth approximately $8,681,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Immix Biopharma during the 4th quarter worth approximately $7,845,000. 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.