Immix Biopharma (NASDAQ:IMMX) Reaches New 52-Week High – Here’s Why

Immix Biopharma, Inc. (NASDAQ:IMMX)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $10.50 and last traded at $9.89, with a volume of 297184 shares changing hands. The stock had previously closed at $9.29.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IMMX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a research report on Thursday, January 22nd. Mizuho started coverage on Immix Biopharma in a research note on Monday, February 9th. They set an “outperform” rating and a $14.00 target price on the stock. Citizens Jmp initiated coverage on Immix Biopharma in a report on Monday. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Wall Street Zen raised Immix Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.00.

Immix Biopharma Trading Up 2.7%

The company has a market cap of $550.78 million, a PE ratio of -13.51 and a beta of 0.25. The company’s 50 day moving average is $6.58 and its 200 day moving average is $4.61.

Hedge Funds Weigh In On Immix Biopharma

A number of institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC bought a new stake in shares of Immix Biopharma during the fourth quarter valued at approximately $20,471,000. Eventide Asset Management LLC bought a new position in Immix Biopharma in the fourth quarter worth approximately $13,331,000. Marshall Wace LLP grew its stake in Immix Biopharma by 3,495.4% in the fourth quarter. Marshall Wace LLP now owns 1,978,743 shares of the company’s stock worth $10,349,000 after purchasing an additional 1,923,708 shares in the last quarter. Millennium Management LLC purchased a new position in Immix Biopharma during the 4th quarter worth $8,681,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Immix Biopharma during the 4th quarter worth $7,845,000. 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.