Immix Biopharma (NASDAQ:IMMX) Trading 7.7% Higher – Time to Buy?

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) were up 7.7% during mid-day trading on Tuesday . The company traded as high as $10.74 and last traded at $10.6790. Approximately 492,627 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 827,066 shares. The stock had previously closed at $9.92.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Tuesday, April 21st. Citizens Jmp reaffirmed a “market outperform” rating and issued a $23.00 price target on shares of Immix Biopharma in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. Morgan Stanley began coverage on shares of Immix Biopharma in a report on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 price objective for the company. Finally, Mizuho raised their target price on shares of Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Immix Biopharma presently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

Immix Biopharma Stock Down 3.7%

The company has a fifty day simple moving average of $9.53 and a 200 day simple moving average of $6.89. The firm has a market capitalization of $549.54 million, a P/E ratio of -10.98 and a beta of 0.12.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly 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. As a group, equities analysts expect that Immix Biopharma, Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IMMX. Allworth Financial LP purchased a new stake in 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 worth $56,000. Balyasny Asset Management L.P. bought a new position in shares of Immix Biopharma during the fourth quarter valued at $67,000. Kera Capital Partners Inc. purchased a new stake in shares of Immix Biopharma during the fourth quarter valued at $68,000. Finally, Velan Capital Investment Management LP boosted its position in shares of Immix Biopharma by 40.0% during the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock valued at $73,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 11.26% of the company’s stock.

About Immix Biopharma

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.