Immix Biopharma (NASDAQ:IMMX) Shares Up 11.4% – What’s Next?

Immix Biopharma, Inc. (NASDAQ:IMMX) shot up 11.4% on Tuesday . The company traded as high as $11.25 and last traded at $11.6370. 953,418 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 1,133,501 shares. The stock had previously closed at $10.45.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup began coverage on Immix Biopharma in a report on Thursday, June 18th. They issued a “buy” rating on the stock. Morgan Stanley started coverage on Immix Biopharma in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 target price for the company. Bank of America initiated coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating and a $27.00 price target on the stock. HC Wainwright increased their price target on shares of Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a research note on Tuesday, April 21st. Seven research 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’s stock. Based on data from MarketBeat, Immix Biopharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Immix Biopharma Price Performance

The firm has a market capitalization of $643.34 million, a price-to-earnings ratio of -12.84 and a beta of 0.09. The firm has a 50 day moving average price of $9.24 and a 200-day moving average price of $8.10.

Immix Biopharma (NASDAQ:IMMX) last released 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. Equities research analysts predict that Immix Biopharma, Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of Immix Biopharma

Large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in Immix Biopharma by 256,968.8% in the first quarter. Bank of America Corp DE now owns 41,131 shares of the company’s stock valued at $375,000 after acquiring an additional 41,115 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Immix Biopharma by 22.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock worth $43,698,000 after acquiring an additional 880,434 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Immix Biopharma in the 1st quarter valued at approximately $264,000. Sei Investments Co. increased its position in shares of Immix Biopharma by 100.0% in the 1st quarter. Sei Investments Co. now owns 147,140 shares of the company’s stock valued at $1,340,000 after purchasing an additional 73,570 shares during the last quarter. Finally, LGT Fund Management Co Ltd. lifted its position in shares of Immix Biopharma by 233.3% during the 1st quarter. LGT Fund Management Co Ltd. now owns 416,594 shares of the company’s stock worth $3,795,000 after purchasing an additional 291,594 shares during the last quarter. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

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.