Immix Biopharma (NASDAQ:IMMX) Trading Up 8.5% – Should You Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX) shares shot up 8.5% during mid-day trading on Wednesday . The company traded as high as $9.52 and last traded at $9.5930. 229,839 shares changed hands during trading, a decline of 75% from the average session volume of 915,146 shares. The stock had previously closed at $8.84.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IMMX. HC Wainwright increased their price target on Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Tuesday, April 21st. Wall Street Zen cut Immix Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday, March 15th. Morgan Stanley began coverage on Immix Biopharma in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Mizuho increased their price target on Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. 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 company. According to MarketBeat, Immix Biopharma has an average rating of “Moderate Buy” and an average price target of $19.50.

Immix Biopharma Stock Up 3.8%

The stock has a market capitalization of $499.48 million, a PE ratio of -9.96 and a beta of 0.12. The firm has a 50 day moving average price of $9.41 and a 200-day moving average price of $7.20.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. Equities analysts expect that Immix Biopharma, Inc. will post -0.78 earnings per share for the current fiscal year.

Institutional Trading of Immix Biopharma

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in shares of Immix Biopharma by 9.5% in the first quarter. Private Advisor Group LLC now owns 34,725 shares of the company’s stock worth $316,000 after acquiring an additional 3,000 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Immix Biopharma in the fourth quarter worth approximately $30,000. Velan Capital Investment Management LP boosted its stake in shares of Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after acquiring an additional 10,000 shares during the last quarter. Mathes Company Inc. acquired a new stake in shares of Immix Biopharma in the fourth quarter worth approximately $56,000. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of Immix Biopharma by 37.4% in the third quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock worth $84,000 after acquiring an additional 10,950 shares during the last quarter. 11.26% of the stock is owned by institutional investors and hedge funds.

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.