Immix Biopharma (NASDAQ:IMMX) Trading 9.7% Higher – Time to Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s share price was up 9.7% during trading on Monday . The company traded as high as $9.35 and last traded at $9.35. 286,775 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,209,379 shares. The stock had previously closed at $8.52.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating and a $27.00 price target for the company. HC Wainwright upped their target price on shares of Immix Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Mizuho increased their target price on shares of Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Needham & Company LLC started coverage on Immix Biopharma in a report on Wednesday, July 22nd. They set a “buy” rating and a $21.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Immix Biopharma has a consensus rating of “Moderate Buy” and a consensus price target of $20.71.

Immix Biopharma Stock Performance

The company has a market cap of $478.26 million, a PE ratio of -9.55 and a beta of 0.09. The stock’s 50-day simple moving average is $9.37 and its 200 day simple moving average is $8.56.

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

Institutional Investors Weigh In On Immix Biopharma

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new position in shares of Immix Biopharma during the 4th quarter worth approximately $30,000. Everhart Financial Group Inc. acquired a new position in Immix Biopharma during the second quarter worth $103,000. Mathes Company Inc. purchased a new position in Immix Biopharma in the fourth quarter worth $56,000. Balyasny Asset Management L.P. acquired a new stake in Immix Biopharma in the fourth quarter valued at $67,000. Finally, Kera Capital Partners Inc. acquired a new stake in Immix Biopharma in the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 11.26% of the company’s stock.

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.