Immix Biopharma (NASDAQ:IMMX) Issues Earnings Results

Immix Biopharma (NASDAQ:IMMX) announced its earnings results on Friday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01), Zacks reports.

Immix Biopharma Price Performance

IMMX opened at $9.72 on Friday. The company has a 50 day simple moving average of $9.38 and a two-hundred day simple moving average of $8.82. The firm has a market cap of $528.87 million, a P/E ratio of -11.05 and a beta of 0.11. Immix Biopharma has a 1-year low of $1.94 and a 1-year high of $12.14.

Analyst Upgrades and Downgrades

IMMX has been the subject of several analyst reports. HC Wainwright increased their target price on Immix Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Needham & Company LLC began coverage on Immix Biopharma in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a research note on Friday, July 17th. Lifesci Capital started coverage on Immix Biopharma in a report on Wednesday, June 17th. They set an “outperform” rating and a $19.00 price target for the company. Finally, Bank of America started coverage on Immix Biopharma in a research report on Thursday, June 18th. They issued a “buy” rating and a $27.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.71.

Institutional Investors Weigh In On Immix Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Immix Biopharma in the 4th quarter valued at $386,000. KVP Capital Advisors LP bought a new position in shares of Immix Biopharma during the 4th quarter valued at approximately $1,205,000. XTX Topco Ltd raised its stake in shares of Immix Biopharma by 32.0% in the fourth quarter. XTX Topco Ltd now owns 46,394 shares of the company’s stock valued at $243,000 after acquiring an additional 11,241 shares during the period. Quadrature Capital Ltd bought a new stake in Immix Biopharma in the fourth quarter worth about $116,000. Finally, Perceptive Advisors LLC purchased a new position in Immix Biopharma during the 4th quarter valued at $1,773,000. 11.26% of the stock is 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.