Immix Biopharma (NASDAQ:IMMX) Trading 9.7% Higher – Should You Buy?

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) shot up 9.7% during mid-day trading on Monday . The company traded as high as $9.35 and last traded at $9.35. Approximately 286,775 shares were traded during trading, a decline of 76% from the average daily volume of 1,209,379 shares. The stock had previously closed at $8.52.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IMMX shares. Lifesci Capital initiated coverage on shares of Immix Biopharma in a research note on Wednesday, June 17th. They set an “outperform” rating and a $19.00 target price for the company. Bank of America started coverage on shares of Immix Biopharma in a research report on Thursday, June 18th. They issued a “buy” rating and a $27.00 price target on the stock. Needham & Company LLC started coverage on shares of Immix Biopharma in a report on Wednesday, July 22nd. They set a “buy” rating and a $21.00 price objective on the stock. Citigroup initiated coverage on shares of Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Friday, July 17th. Eight equities research analysts have 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.71.

Immix Biopharma Stock Performance

The company has a market capitalization of $459.22 million, a P/E ratio of -9.17 and a beta of 0.09. The firm has a 50 day moving average price of $9.35 and a two-hundred day moving average price of $8.61.

Immix Biopharma (NASDAQ:IMMX) last posted its earnings results on Thursday, May 7th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01. On average, equities analysts expect that Immix Biopharma, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Immix Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Immix Biopharma during the fourth quarter worth about $30,000. Everhart Financial Group Inc. acquired a new position in shares of Immix Biopharma in the 2nd quarter worth approximately $103,000. Mathes Company Inc. acquired a new position in shares of Immix Biopharma in the 4th quarter worth approximately $56,000. Balyasny Asset Management L.P. bought a new stake in Immix Biopharma during the 4th quarter worth approximately $67,000. Finally, Kera Capital Partners Inc. bought a new stake in Immix Biopharma during the 4th quarter worth approximately $68,000. 11.26% of the stock is currently owned by institutional investors and hedge funds.

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.