Immix Biopharma (NASDAQ:IMMX) Sees Strong Trading Volume on Analyst Upgrade

Immix Biopharma, Inc. (NASDAQ:IMMX) saw unusually-strong trading volume on Tuesday after Needham & Company LLC raised their price target on the stock from $21.00 to $30.00. Needham & Company LLC currently has a buy rating on the stock. 1,475,558 shares traded hands during trading, an increase of 14% from the previous session’s volume of 1,289,672 shares. The stock last traded at $10.2830 and had previously closed at $11.47.

IMMX has been the topic of several other reports. Citigroup restated a “market outperform” rating on shares of Immix Biopharma in a research note on Friday, August 14th. Mizuho upped their target price on shares of Immix Biopharma from $15.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 15th. Lifesci Capital began coverage on shares of Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 target price for the company. Morgan Stanley dropped their price target on shares of Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Finally, Bank of America began coverage on shares of Immix Biopharma in a report on Thursday, June 18th. They set a “buy” rating and a $27.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Immix Biopharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.14.

Trending Headlines about Immix Biopharma

Here are the key news stories impacting Immix Biopharma this week:

• Positive Sentiment: ImmixBio reported an interim 89% complete response rate for NXC-201 in the NEXICART-2 study of relapsed/refractory AL amyloidosis. Among 25 patients, 21 achieved complete response and the remaining four were MRD-negative, meaning all 25 reached either complete response or MRD negativity. The company said these results could support a response rate of up to 98% as additional data mature. Immix Biopharma Announces 89% Complete Response Rate
• Positive Sentiment: The clinical results strengthen the investment case for NXC-201, which has received FDA Breakthrough Therapy, Regenerative Medicine Advanced Therapy and Orphan Drug designations. These designations may help accelerate development and review if later-stage results remain favorable.
• Positive Sentiment: Needham raised its price target on IMMX from $21 to $30 and maintained a Buy rating. Other recent analyst targets range from $19 to $27, indicating substantial implied upside based on expectations for NXC-201. BofA Raises Odds of Success for NXC-201
• Neutral Sentiment: ImmixBio completed its underwritten offering of 11,363,637 shares at $11.00 each, generating approximately $117.1 million in net proceeds and $125 million in gross proceeds. The capital gives the company funding for NXC-201 development, working capital and corporate purposes. Immix Biopharma Closes $117.1 Million Offering
• Negative Sentiment: The financing materially expands the share count, diluting existing shareholders. Selling shares at $11.00 can also create a near-term price anchor and may explain why the stock has not fully reflected the favorable clinical news.
• Negative Sentiment: NXC-201 remains dependent on additional clinical validation, regulatory progress and eventual commercialization. The reported results are interim, and the company continues to operate at a loss, so the positive data do not eliminate development and financing risks.

Institutional Investors Weigh In On Immix Biopharma

Several large investors have recently made changes to their positions in IMMX. Jupiter Topco LLC bought a new stake in shares of Immix Biopharma during the 2nd quarter worth $100,816,000. Janus Henderson Group PLC grew its position in Immix Biopharma by 22.5% during the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock valued at $43,698,000 after buying an additional 880,434 shares during the period. BlackRock Inc. bought a new position in Immix Biopharma during the second quarter valued at about $30,827,000. Opaleye Management Inc. purchased a new stake in Immix Biopharma during the second quarter worth about $24,177,000. Finally, Wellington Management Group LLP purchased a new stake in Immix Biopharma during the second quarter worth about $15,191,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

Immix Biopharma Stock Down 1.3%

The firm has a market cap of $744.02 million, a P/E ratio of -11.82 and a beta of 0.20. The firm’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $10.23.

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 analysts’ consensus estimates of ($0.17) by ($0.01). As a group, analysts forecast that Immix Biopharma, Inc. will post -0.73 earnings per share for the current year.

Immix Biopharma Company Profile

Immix Biopharma, Inc (NASDAQ: IMMX) is a clinical-stage biopharmaceutical company developing cell therapies for cancer and autoimmune diseases. The company focuses on treatments designed to target disease-associated cells and address serious conditions with limited therapeutic options.

Its lead product candidate is NXC-201, an autologous chimeric antigen receptor T-cell (CAR-T) therapy targeting B-cell maturation antigen (BCMA). NXC-201 is being investigated for relapsed or refractory AL amyloidosis and multiple myeloma, two diseases involving abnormal plasma cells.