Immix Biopharma (NASDAQ:IMMX) Trading 9.5% Higher – Time to Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX) rose 9.5% on Monday . The company traded as high as $9.47 and last traded at $9.5450. Approximately 434,167 shares traded hands during trading, a decline of 58% from the average daily volume of 1,029,245 shares. The stock had previously closed at $8.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IMMX. Mizuho raised their price objective on Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. HC Wainwright boosted their target price on Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Citizens Jmp restated a “market outperform” rating and issued a $23.00 price target on shares of Immix Biopharma in a research note on Friday, March 27th. Bank of America started coverage on Immix Biopharma in a report on Thursday. They set a “buy” rating and a $27.00 price target for the company. Finally, Wall Street Zen cut shares of Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. Seven equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Immix Biopharma Price Performance

The company has a market cap of $509.01 million, a price-to-earnings ratio of -10.18 and a beta of 0.11. The firm has a 50-day moving average price of $9.20 and a 200 day moving average price of $7.78.

Immix Biopharma (NASDAQ:IMMX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.01. On average, equities analysts anticipate that Immix Biopharma, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Immix Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of IMMX. Private Advisor Group LLC boosted its position 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 valued at $316,000 after acquiring an additional 3,000 shares during the period. Allworth Financial LP bought a new position in Immix Biopharma during the fourth quarter worth about $30,000. Velan Capital Investment Management LP increased its position in Immix Biopharma by 40.0% during 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 period. Mathes Company Inc. acquired a new stake in Immix Biopharma in the 4th quarter worth about $56,000. Finally, Tocqueville Asset Management L.P. raised its stake in Immix Biopharma by 37.4% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock worth $84,000 after purchasing an additional 10,950 shares in the last quarter. 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.