Immix Biopharma (NASDAQ:IMMX) Shares Climb 6.3% – Still a Buy?

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) shot up 6.3% on Tuesday. The company traded as high as $8.46 and last traded at $8.7390. Approximately 45,095 shares were traded during trading, a decline of 97% from the average daily volume of 1,321,504 shares. The stock had previously closed at $8.22.

Analyst Ratings Changes

IMMX has been the subject of several recent research reports. Mizuho lifted their target price on shares of Immix Biopharma from $15.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a report on Thursday, October 15th. Citigroup reaffirmed a “market outperform” rating on shares of Immix Biopharma in a report on Wednesday, September 30th. HC Wainwright increased their price target on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Needham & Company LLC lifted their price objective on Immix Biopharma from $21.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Immix Biopharma presently has an average rating of “Moderate Buy” and a consensus price target of $24.29.

Immix Biopharma Price Performance

The firm’s 50-day moving average is $11.60 and its two-hundred day moving average is $10.22. The company has a market cap of $608.80 million, a P/E ratio of -9.67 and a beta of 0.24.

Immix Biopharma (NASDAQ:IMMX) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). As a group, sell-side analysts expect that Immix Biopharma, Inc. will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Private Advisor Group LLC grew its position in Immix Biopharma by 9.5% in the 1st quarter. Private Advisor Group LLC now owns 34,725 shares of the company’s stock valued at $316,000 after acquiring an additional 3,000 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Immix Biopharma in the 2nd quarter valued at about $41,000. Nisa Investment Advisors LLC bought a new stake in Immix Biopharma during the 3rd quarter valued at $52,000. Compass Financial Management LLC bought a new stake in Immix Biopharma during the second quarter valued at about $56,000. Finally, Allworth Financial LP purchased a new stake in Immix Biopharma during the second quarter valued at approximately $75,000. Institutional investors own 11.26% of the company’s stock.

About Immix Biopharma

Immix Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing cell therapies for patients with difficult-to-treat cancers and other serious diseases. The company’s research and development activities are centered on engineered immune-cell treatments intended to target malignant cells.

Its lead product candidate is NXC-201, an investigational autologous chimeric antigen receptor T-cell (CAR-T) therapy designed to target B-cell maturation antigen (BCMA). NXC-201 is being evaluated in clinical studies for relapsed or refractory multiple myeloma and relapsed or refractory AL amyloidosis, a rare blood disorder in which abnormal plasma cells produce misfolded proteins.

Immix Biopharma was founded in 2012 and is headquartered in Los Angeles, California.