Immix Biopharma (NASDAQ:IMMX) Trading Up 8.5% – Should You Buy?
by Scott Moore · The Cerbat GemImmix Biopharma, Inc. (NASDAQ:IMMX – Get Free Report) shares were up 8.5% during mid-day trading on Wednesday . The stock traded as high as $9.52 and last traded at $9.5930. Approximately 229,839 shares changed hands during trading, a decline of 75% from the average daily volume of 915,146 shares. The stock had previously closed at $8.84.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on IMMX shares. Wall Street Zen cut Immix Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. Citizens Jmp restated a “market outperform” rating and set a $23.00 price target on shares of Immix Biopharma in a report on Friday, March 27th. Mizuho increased their price target on Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Morgan Stanley assumed coverage on Immix Biopharma in a report on Wednesday, March 25th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, HC Wainwright increased their price target on Immix Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday. Four 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.
Check Out Our Latest Stock Analysis on Immix Biopharma
Immix Biopharma Trading Up 3.8%
The company has a 50-day simple moving average of $9.41 and a 200 day simple moving average of $7.20. The company has a market cap of $499.48 million, a P/E ratio of -9.96 and a beta of 0.12.
Immix Biopharma (NASDAQ:IMMX – Get Free Report) last announced 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. On average, equities analysts forecast that Immix Biopharma, Inc. will post -0.78 EPS for the current fiscal year.
Hedge Funds Weigh In On Immix Biopharma
Several hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC grew its position in Immix Biopharma by 9.5% in the 1st 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 last quarter. Allworth Financial LP bought a new position in shares of Immix Biopharma during the 4th quarter worth $30,000. Velan Capital Investment Management LP grew its position in shares of Immix Biopharma by 40.0% during the 3rd quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after buying an additional 10,000 shares in the last quarter. Mathes Company Inc. bought a new position in shares of Immix Biopharma during the 4th quarter worth $56,000. Finally, Tocqueville Asset Management L.P. grew its position in shares of Immix Biopharma by 37.4% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock worth $84,000 after buying an additional 10,950 shares in the last quarter. Institutional investors own 11.26% of the company’s stock.
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.