Immix Biopharma (NASDAQ:IMMX) Issues Quarterly Earnings Results

Immix Biopharma (NASDAQ:IMMX) posted its quarterly earnings results on Friday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05), Zacks reports.

Immix Biopharma Price Performance

IMMX opened at $3.15 on Friday. The business has a 50 day simple moving average of $2.60 and a two-hundred day simple moving average of $2.42. The firm has a market capitalization of $104.08 million, a price-to-earnings ratio of -4.09 and a beta of 0.33. Immix Biopharma has a one year low of $1.34 and a one year high of $4.05.

Hedge Funds Weigh In On Immix Biopharma

A hedge fund recently raised its stake in Immix Biopharma stock. Vanguard Group Inc. boosted its stake in Immix Biopharma, Inc. (NASDAQ:IMMX) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 730,162 shares of the company’s stock after buying an additional 31,625 shares during the period. Vanguard Group Inc. owned 2.21% of Immix Biopharma worth $1,526,000 at the end of the most recent reporting period. Institutional investors own 11.26% of the company’s stock.

Wall Street Analyst Weigh In

IMMX has been the topic of several analyst reports. Wall Street Zen downgraded Immix Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a research note on Wednesday, October 8th. Zacks Research downgraded Immix Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, HC Wainwright increased their price objective on Immix Biopharma from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Immix Biopharma presently has an average rating of “Hold” and an average target price of $8.00.

About Immix Biopharma

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.