Immix Biopharma (NASDAQ:IMMX) Issues Quarterly Earnings Results

Immix Biopharma (NASDAQ:IMMX) posted its earnings results on Friday. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01), Zacks reports.

Immix Biopharma Trading Down 3.4%

IMMX stock traded down $0.34 during trading on Friday, reaching $9.72. 1,604,682 shares of the stock were exchanged, compared to its average volume of 1,654,168. Immix Biopharma has a 1 year low of $1.94 and a 1 year high of $12.14. The firm has a market capitalization of $528.87 million, a price-to-earnings ratio of -10.57 and a beta of 0.11. The business has a 50 day moving average price of $9.38 and a 200-day moving average price of $8.82.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. purchased a new position in shares of Immix Biopharma during the fourth quarter worth $67,000. Velan Capital Investment Management LP grew 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 in the last quarter. Tocqueville Asset Management L.P. boosted its stake in shares of Immix Biopharma by 37.4% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock valued at $84,000 after buying an additional 10,950 shares during the period. Squarepoint Ops LLC acquired a new position in Immix Biopharma during the 4th quarter worth approximately $112,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Immix Biopharma during the fourth quarter worth $116,000. Hedge funds and other institutional investors own 11.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on IMMX. Bank of America initiated coverage on Immix Biopharma in a research report on Thursday, June 18th. They issued a “buy” rating and a $27.00 price target for the company. Citigroup began coverage on Immix Biopharma in a report on Thursday, June 18th. They issued a “buy” rating 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 target price on the stock. Lifesci Capital started coverage on shares of Immix Biopharma in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 target price on the stock. Finally, HC Wainwright boosted 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, May 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.71.

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.