Immix Biopharma (NASDAQ:IMMX) Issues Quarterly Earnings Results

Immix Biopharma (NASDAQ:IMMX) released its earnings results on Wednesday. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12), FiscalAI reports.

Immix Biopharma Trading Down 6.5%

Shares of IMMX traded down $0.57 during trading hours on Friday, reaching $8.15. 750,582 shares of the stock traded hands, compared to its average volume of 889,096. Immix Biopharma has a 52 week low of $1.34 and a 52 week high of $11.61. The stock has a fifty day simple moving average of $7.70 and a 200 day simple moving average of $5.20. The company has a market cap of $431.62 million, a price-to-earnings ratio of -9.16 and a beta of 0.25.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley began coverage on Immix Biopharma in a report on Wednesday. They set an “overweight” rating and a $20.00 price target for the company. Wall Street Zen cut Immix Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. HC Wainwright increased their target price on shares of Immix Biopharma from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. Citizens Jmp reiterated a “market outperform” rating and set a $23.00 price objective on shares of Immix Biopharma in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Immix Biopharma presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Institutional Investors Weigh In On Immix Biopharma

A number of hedge funds have recently made changes to their positions in IMMX. XTX Topco Ltd raised its position in shares of Immix Biopharma by 32.0% in the fourth quarter. XTX Topco Ltd now owns 46,394 shares of the company’s stock valued at $243,000 after purchasing an additional 11,241 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Immix Biopharma by 300.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 40,000 shares of the company’s stock worth $209,000 after buying an additional 30,000 shares during the period. Susquehanna International Group LLP boosted its holdings in Immix Biopharma by 78.8% in the 3rd quarter. Susquehanna International Group LLP now owns 90,858 shares of the company’s stock worth $190,000 after buying an additional 40,032 shares during the period. Barclays PLC purchased a new position in Immix Biopharma in the 4th quarter valued at approximately $183,000. Finally, Jump Financial LLC purchased a new position in Immix Biopharma in the 4th quarter valued at approximately $177,000. 11.26% of the stock is currently owned by institutional investors.

Immix Biopharma Company Profile

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.