Immix Biopharma (NASDAQ:IMMX) Trading Up 7.1% – Here’s What Happened

Immix Biopharma, Inc. (NASDAQ:IMMX) rose 7.1% during trading on Tuesday . The company traded as high as $10.67 and last traded at $10.8450. Approximately 821,072 shares changed hands during trading, a decline of 34% from the average session volume of 1,238,697 shares. The stock had previously closed at $10.13.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IMMX. Morgan Stanley decreased their price objective on shares of Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th. Bank of America initiated coverage on shares of Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating and a $27.00 price target on the stock. Needham & Company LLC assumed coverage on Immix Biopharma in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 price target for the company. Finally, Citigroup initiated coverage on Immix Biopharma in a report on Thursday, June 18th. They issued a “buy” rating for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.29.

Immix Biopharma Stock Up 10.8%

The stock has a market capitalization of $610.81 million, a P/E ratio of -12.87 and a beta of 0.11. The company has a 50 day moving average of $9.40 and a 200-day moving average of $8.89.

Immix Biopharma (NASDAQ:IMMX) last released its earnings results on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Equities analysts forecast that Immix Biopharma, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Immix Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Tocqueville Asset Management L.P. bought a new position in Immix Biopharma in the second quarter worth about $913,000. BlackRock Inc. bought a new position in shares of Immix Biopharma during the second quarter valued at approximately $30,827,000. Deutsche Bank AG acquired a new stake in shares of Immix Biopharma during the 2nd quarter worth approximately $421,000. Bank of New York Mellon Corp acquired a new stake in shares of Immix Biopharma during the 2nd quarter worth approximately $2,430,000. Finally, State of Wyoming bought a new stake in shares of Immix Biopharma in the 2nd quarter worth approximately $140,000. Institutional investors and hedge funds 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.