Immix Biopharma (NASDAQ:IMMX) Stock Jumps 4.1% – What’s Next?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s stock price was up 4.1% during mid-day trading on Monday. The company traded as high as $11.37 and last traded at $11.4250. Approximately 314,931 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,286,555 shares. The stock had previously closed at $10.97.

Analysts Set New Price Targets

Several research firms recently issued reports on IMMX. 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 price target on the stock. Citigroup reissued a “market outperform” rating on shares of Immix Biopharma in a report on Friday, August 14th. HC Wainwright boosted their target price on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Bank of America started 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. Finally, Mizuho increased their price target on shares of Immix Biopharma from $15.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 15th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.86.

Immix Biopharma Price Performance

The company has a fifty day moving average price of $11.56 and a 200 day moving average price of $10.22. The company has a market capitalization of $845.96 million, a P/E ratio of -13.27 and a beta of 0.20.

Immix Biopharma (NASDAQ:IMMX) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). On average, equities research analysts predict that Immix Biopharma, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Immix Biopharma

A number of large investors have recently modified their holdings of the company. Blue Owl Capital Holdings LP acquired a new stake in shares of Immix Biopharma in the second quarter valued at approximately $4,511,000. LGT Fund Management Co Ltd. raised its holdings in shares of Immix Biopharma by 233.3% during the first quarter. LGT Fund Management Co Ltd. now owns 416,594 shares of the company’s stock valued at $3,795,000 after buying an additional 291,594 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of Immix Biopharma during the second quarter worth approximately $913,000. Wellington Management Group LLP acquired a new position in shares of Immix Biopharma during the second quarter worth approximately $15,191,000. Finally, Velan Capital Investment Management LP grew its holdings in Immix Biopharma by 46.6% in the 2nd quarter. Velan Capital Investment Management LP now owns 1,085,000 shares of the company’s stock worth $11,186,000 after buying an additional 345,000 shares in the last quarter. Institutional investors and hedge funds own 11.26% of the company’s stock.

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.