Immix Biopharma (NASDAQ:IMMX) Announces Earnings Results, Misses Estimates By $0.01 EPS

Immix Biopharma (NASDAQ:IMMX) issued its quarterly earnings data on Friday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01), Zacks reports.

Immix Biopharma Price Performance

NASDAQ IMMX traded down $0.34 during trading on Friday, reaching $9.72. 1,604,682 shares of the company’s stock were exchanged, compared to its average volume of 1,654,168. The business has a 50 day moving average price of $9.38 and a 200-day moving average price of $8.82. The stock has a market capitalization of $528.87 million, a P/E ratio of -10.57 and a beta of 0.11. Immix Biopharma has a fifty-two week low of $1.94 and a fifty-two week high of $12.14.

Institutional Investors Weigh In On Immix Biopharma

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new position in shares of Immix Biopharma in the fourth quarter valued at $20,471,000. Marshall Wace LLP grew its stake in Immix Biopharma by 3,495.4% in the 4th quarter. Marshall Wace LLP now owns 1,978,743 shares of the company’s stock valued at $10,349,000 after buying an additional 1,923,708 shares during the last quarter. Millennium Management LLC bought a new position in Immix Biopharma in the 4th quarter valued at about $8,681,000. Adage Capital Partners GP L.L.C. acquired a new stake in Immix Biopharma during the fourth quarter worth approximately $7,845,000. Finally, Logos Global Management LP bought a new stake in shares of Immix Biopharma during the fourth quarter worth approximately $5,230,000. Institutional investors and hedge funds own 11.26% of the company’s stock.

Wall Street Analyst Weigh In

IMMX has been the topic of a number of research analyst reports. HC Wainwright raised their price objective on shares of Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. 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 for the company. Lifesci Capital began coverage on Immix Biopharma in a report on Wednesday, June 17th. They set an “outperform” rating and a $19.00 target price for the company. Needham & Company LLC began coverage on Immix Biopharma in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Citigroup started coverage on Immix Biopharma in a report on Thursday, June 18th. They issued a “buy” rating on the stock. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.71.

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.