Immix Biopharma (NASDAQ:IMMX) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Immix Biopharma (NASDAQ:IMMX) issued its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04), FiscalAI reports.

Immix Biopharma Stock Performance

Shares of IMMX traded up $0.21 during midday trading on Friday, hitting $9.75. 661,183 shares of the stock were exchanged, compared to its average volume of 707,029. Immix Biopharma has a 52-week low of $1.87 and a 52-week high of $11.61. The stock has a fifty day simple moving average of $9.34 and a 200 day simple moving average of $6.65. The firm has a market cap of $516.85 million, a P/E ratio of -10.96 and a beta of 0.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IMMX. Vanguard Group Inc. boosted its position in shares of Immix Biopharma by 4.5% during the third quarter. Vanguard Group Inc. now owns 730,162 shares of the company’s stock worth $1,526,000 after buying an additional 31,625 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of Immix Biopharma by 37.4% during the third quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock worth $84,000 after buying an additional 10,950 shares during the period. Imprint Wealth LLC purchased a new position in shares of Immix Biopharma during the third quarter worth $141,000. Citadel Advisors LLC purchased a new position in shares of Immix Biopharma during the third quarter worth $188,000. Finally, Susquehanna International Group LLP boosted its position in shares of Immix Biopharma by 78.8% during the third quarter. Susquehanna International Group LLP now owns 90,858 shares of the company’s stock worth $190,000 after buying an additional 40,032 shares during the period. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.