Immix Biopharma (NASDAQ:IMMX) Reaches New 12-Month High – What’s Next?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $12.14 and last traded at $12.02, with a volume of 4237988 shares traded. The stock had previously closed at $10.45.

Analysts Set New Price Targets

A number of research firms recently commented on IMMX. Bank of America assumed 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 on the stock. Mizuho upped their target price on Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Morgan Stanley initiated coverage on Immix Biopharma in a research note on Wednesday, March 25th. They set an “overweight” rating and a $20.00 price target for the company. Citizens Jmp reissued a “market outperform” rating and issued a $23.00 price objective on shares of Immix Biopharma in a research note on Friday, March 27th. Finally, Citigroup initiated coverage on Immix Biopharma in a report on Thursday, June 18th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.67.

Immix Biopharma Stock Performance

The stock has a market capitalization of $654.01 million, a PE ratio of -13.07 and a beta of 0.09. The firm has a 50 day moving average of $9.28 and a 200-day moving average of $8.15.

Immix Biopharma (NASDAQ:IMMX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. On average, sell-side 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 stock. Vanguard Group Inc. raised its stake in shares of Immix Biopharma by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 730,162 shares of the company’s stock valued at $1,526,000 after acquiring an additional 31,625 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in Immix Biopharma by 37.4% during the third quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock valued at $84,000 after purchasing an additional 10,950 shares during the last quarter. Imprint Wealth LLC acquired a new position in Immix Biopharma during the third quarter valued at approximately $141,000. Citadel Advisors LLC bought a new position in shares of Immix Biopharma in the third quarter valued at approximately $188,000. Finally, Susquehanna International Group LLP raised its position in shares of Immix Biopharma by 78.8% in the third quarter. Susquehanna International Group LLP now owns 90,858 shares of the company’s stock valued at $190,000 after purchasing an additional 40,032 shares during the period. Institutional investors own 11.26% of the company’s stock.

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.