Immix Biopharma (NASDAQ:IMMX) Trading Up 9.5% – Here’s Why

Immix Biopharma, Inc. (NASDAQ:IMMX)’s share price shot up 9.5% during trading on Monday . The company traded as high as $9.47 and last traded at $9.5450. Approximately 434,167 shares were traded during mid-day trading, a decline of 58% from the average session volume of 1,029,245 shares. The stock had previously closed at $8.72.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IMMX. Wall Street Zen lowered Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. Mizuho increased their price target on Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Citigroup started coverage on shares of Immix Biopharma in a report on Thursday, June 18th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a research report on Tuesday, April 21st. Finally, Lifesci Capital initiated coverage on Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Immix Biopharma has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Immix Biopharma Stock Up 0.5%

The company has a 50-day moving average of $9.21 and a 200 day moving average of $7.86. The firm has a market capitalization of $541.77 million, a PE ratio of -10.79 and a beta of 0.10.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMX. Allworth Financial LP bought a new stake in shares of Immix Biopharma during the 4th quarter valued at $30,000. Mathes Company Inc. purchased a new position in shares of Immix Biopharma in the fourth quarter valued at $56,000. Balyasny Asset Management L.P. purchased a new position in Immix Biopharma in the fourth quarter worth about $67,000. Kera Capital Partners Inc. bought a new position in Immix Biopharma during the fourth quarter valued at $68,000. Finally, Velan Capital Investment Management LP raised its holdings in shares of Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after buying an additional 10,000 shares during the period. 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.