Immix Biopharma (NASDAQ:IMMX) Announces Quarterly Earnings Results

Immix Biopharma (NASDAQ:IMMX) released its earnings results on Friday. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01), Zacks reports.

Immix Biopharma Trading Down 3.4%

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC assumed 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. Bank of America assumed coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They issued a “buy” rating and a $27.00 target price on the stock. Lifesci Capital started coverage on shares of Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 target price on the stock. HC Wainwright boosted their target price on shares of Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Immix Biopharma has a consensus rating of “Moderate Buy” and an average target price of $20.71.

Institutional Investors Weigh In On Immix Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Balyasny Asset Management L.P. acquired a new stake in shares of Immix Biopharma during the 4th quarter worth approximately $67,000. Velan Capital Investment Management LP lifted its holdings in Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock valued at $73,000 after buying an additional 10,000 shares during the period. Tocqueville Asset Management L.P. lifted its holdings in Immix Biopharma by 37.4% in the third 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 bought a new position in Immix Biopharma in the fourth quarter valued at approximately $112,000. Finally, Quadrature Capital Ltd bought a new position in Immix Biopharma in the fourth quarter valued at approximately $116,000. 11.26% of the stock is owned by institutional investors and hedge funds.

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.