Immix Biopharma (NASDAQ:IMMX) Announces Earnings Results, Misses Expectations By $0.05 EPS

Immix Biopharma (NASDAQ:IMMX) announced its earnings results on Friday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), Zacks reports.

Immix Biopharma Stock Up 4.0%

Shares of IMMX stock traded up $0.12 on Friday, reaching $3.15. 457,295 shares of the stock were exchanged, compared to its average volume of 780,838. The stock has a market cap of $104.08 million, a P/E ratio of -4.09 and a beta of 0.33. The firm has a 50 day moving average of $2.60 and a two-hundred day moving average of $2.42. Immix Biopharma has a 1-year low of $1.34 and a 1-year high of $4.05.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IMMX. Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Wednesday, October 8th. Zacks Research lowered shares of Immix Biopharma from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Wall Street Zen cut shares of Immix Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Finally, HC Wainwright lifted their price target on shares of Immix Biopharma from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.00.

Institutional Trading of Immix Biopharma

An institutional investor recently raised its position in Immix Biopharma stock. Vanguard Group Inc. increased its holdings in shares of Immix Biopharma, Inc. (NASDAQ:IMMX) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 730,162 shares of the company’s stock after purchasing an additional 31,625 shares during the quarter. Vanguard Group Inc. owned 2.21% of Immix Biopharma worth $1,526,000 as of its most recent filing with the SEC. 11.26% of the stock is currently owned by institutional investors and hedge funds.

Immix Biopharma Company Profile

Immix Biopharma, Inc, a clinical-stage biopharmaceutical company, engages in developing tissue-specific therapeutics in oncology and inflammation in the United States and Australia. The company is developing IMX-110 that is in Phase 1b/2a clinical trials for the treatment of soft tissue sarcoma and solid tumors; IMX-111, a tissue-specific biologic for the treatment of colorectal cancers; and IMX-120, a tissue-specific biologic for the treatment of ulcerative colitis and severe Crohn's disease.