Immix Biopharma (NASDAQ:IMMX) Reaches New 52-Week High – Should You Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.80 and last traded at $13.61, with a volume of 1414936 shares changing hands. The stock had previously closed at $13.66.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IMMX. Needham & Company LLC initiated coverage on shares of Immix Biopharma in a report on Wednesday, July 22nd. They set a “buy” rating and a $21.00 target price for the company. Morgan Stanley lowered their price target on shares of Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Citigroup reissued a “market outperform” rating on shares of Immix Biopharma in a research report on Friday, August 14th. Bank of America began coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating and a $27.00 price objective for the company. Finally, Lifesci Capital began coverage on Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.29.

Immix Biopharma Stock Performance

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -15.99 and a beta of 0.11. The firm has a fifty day moving average price of $10.40 and a 200 day moving average price of $9.46.

Immix Biopharma (NASDAQ:IMMX) last issued its earnings results on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). On average, analysts expect that Immix Biopharma, Inc. will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of Immix Biopharma in the 2nd quarter valued at about $41,000. Allworth Financial LP bought a new position in Immix Biopharma during the fourth quarter worth about $30,000. California State Teachers Retirement System bought a new position in Immix Biopharma during the second quarter worth about $566,000. Compass Financial Management LLC acquired a new position in Immix Biopharma during the second quarter worth approximately $56,000. Finally, Everhart Financial Group Inc. acquired a new position in Immix Biopharma during the second quarter worth approximately $103,000. 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.