Immix Biopharma, Inc. (NASDAQ:IMMX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) have received a consensus rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.2857.

IMMX has been the subject of a number of analyst reports. Citigroup restated a “market outperform” rating on shares of Immix Biopharma in a research report on Friday, August 14th. Needham & Company LLC started coverage on Immix Biopharma in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 target price on the stock. Morgan Stanley cut their target price on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a report on Friday, July 17th. Finally, HC Wainwright increased their price objective on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 10th.

Institutional Trading of Immix Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in IMMX. Allworth Financial LP bought a new position in Immix Biopharma during the 4th quarter valued at $30,000. Legal & General Group Plc acquired a new stake in shares of Immix Biopharma in the second quarter valued at $41,000. Mathes Company Inc. bought a new position in Immix Biopharma during the fourth quarter valued at about $56,000. Compass Financial Management LLC bought a new stake in Immix Biopharma in the second quarter worth about $56,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Immix Biopharma in the 4th quarter valued at about $67,000. 11.26% of the stock is currently owned by institutional investors.

Immix Biopharma Price Performance

Shares of IMMX stock opened at $13.91 on Monday. The company has a market cap of $995.12 million, a P/E ratio of -15.81 and a beta of 0.20. The business has a 50 day moving average of $11.03 and a two-hundred day moving average of $9.80. Immix Biopharma has a 52 week low of $1.94 and a 52 week high of $15.10.

Immix Biopharma (NASDAQ:IMMX) last announced its quarterly 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). Analysts expect that Immix Biopharma will post -0.74 EPS for the current fiscal year.

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.