Immix Biopharma (NASDAQ:IMMX) Hits New 1-Year High – Should You Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.76 and last traded at $12.6420, with a volume of 111559 shares. The stock had previously closed at $11.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed a “market outperform” rating on shares of Immix Biopharma in a report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th. Needham & Company LLC initiated coverage on shares of Immix Biopharma in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 price objective for the company. Morgan Stanley cut their target price on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, Bank of America started coverage on Immix Biopharma in a report on Thursday, June 18th. They set a “buy” rating and a $27.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.29.

Immix Biopharma Stock Performance

The stock has a market cap of $941.47 million, a P/E ratio of -14.95 and a beta of 0.11. The business has a 50 day simple moving average of $9.98 and a 200-day simple moving average of $9.24.

Immix Biopharma (NASDAQ:IMMX) last released its earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). On average, sell-side analysts predict that Immix Biopharma, Inc. will post -0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immix Biopharma

Several large investors have recently modified their holdings of IMMX. Wellington Management Group LLP bought a new stake in shares of Immix Biopharma in the 2nd quarter worth approximately $15,191,000. United Capital Financial Advisors LLC bought a new position in Immix Biopharma during the second quarter valued at $729,000. Bank of America Corp DE purchased a new stake in Immix Biopharma in the second quarter worth $4,260,000. Jupiter Topco LLC purchased a new stake in Immix Biopharma in the second quarter worth $100,816,000. Finally, J. Goldman & Co LP bought a new stake in shares of Immix Biopharma in the second quarter valued at $2,049,000. Hedge funds and other institutional investors 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.