Immix Biopharma (NASDAQ:IMMX) Shares Gap Up – What’s Next?

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) gapped up before the market opened on Thursday . The stock had previously closed at $9.13, but opened at $9.92. Immix Biopharma shares last traded at $9.5860, with a volume of 285,624 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IMMX. 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. Mizuho lifted their target price on Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Lifesci Capital began coverage on Immix Biopharma in a research note on Wednesday. They issued an “outperform” rating and a $19.00 price target on the stock. HC Wainwright increased their price target on Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, Morgan Stanley began coverage on Immix Biopharma in a research report on Wednesday, March 25th. They set an “overweight” rating and a $20.00 price objective for the company. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Immix Biopharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Immix Biopharma Stock Performance

The stock has a market cap of $503.79 million, a PE ratio of -10.04 and a beta of 0.10. The stock’s 50-day moving average is $9.21 and its two-hundred day moving average is $7.71.

Immix Biopharma (NASDAQ:IMMX) last announced its earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. Analysts forecast that Immix Biopharma, Inc. will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Immix Biopharma

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in 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 purchasing an additional 31,625 shares during the period. Tocqueville Asset Management L.P. increased its stake in Immix Biopharma by 37.4% during the 3rd 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 stake in Immix Biopharma during the 3rd quarter worth approximately $141,000. Citadel Advisors LLC acquired a new stake in Immix Biopharma during the 3rd quarter worth approximately $188,000. Finally, Susquehanna International Group LLP boosted its position in Immix Biopharma by 78.8% in the 3rd quarter. Susquehanna International Group LLP now owns 90,858 shares of the company’s stock valued at $190,000 after buying an additional 40,032 shares during the period. Hedge funds and other 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.