Immix Biopharma, Inc. (IMMX) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Eight of nine analysts rate Immix Biopharma a buy, versus one sell rating, with an average 12-month price target of $24.29. Recent targets range from $20 to $30.
• Institutional ownership has increased: Hedge funds and other institutions own 11.26% of IMMX, with major new positions from Jupiter Topco, BlackRock, Opaleye Management, and Wellington Management.
• The stock remains speculative: IMMX opened at $8.22, below its 50-day and 200-day moving averages, and most recently reported a quarterly loss of $0.18 per share versus analysts’ expected loss of $0.17. The clinical-stage company is developing NXC-201, a CAR T-cell therapy for relapsed or refractory blood cancers.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $24.29.

IMMX has been the subject of a number of recent research reports. Citigroup reiterated a "market outperform" rating on shares of Immix Biopharma in a research report on Wednesday, September 30th. HC Wainwright lifted their target price on Immix Biopharma from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immix Biopharma in a research report on Thursday. Needham & Company LLC upped their target price on Immix Biopharma from $21.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, September 29th. Finally, Morgan Stanley set a $20.00 price target on Immix Biopharma in a research report on Tuesday.

Hedge Funds Weigh In On Immix Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in shares of Immix Biopharma during the second quarter valued at $100,816,000. Janus Henderson Group PLC lifted its stake in Immix Biopharma by 22.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company's stock worth $43,698,000 after acquiring an additional 880,434 shares in the last quarter. BlackRock Inc. purchased a new stake in Immix Biopharma in the 2nd quarter worth about $30,827,000. Opaleye Management Inc. purchased a new stake in Immix Biopharma in the 2nd quarter worth about $24,177,000. Finally, Wellington Management Group LLP acquired a new stake in Immix Biopharma during the 2nd quarter worth about $15,191,000. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

Immix Biopharma Stock Performance

Shares of IMMX stock opened at $8.22 on Tuesday. Immix Biopharma has a 1 year low of $2.71 and a 1 year high of $15.10. The business's fifty day moving average is $11.71 and its 200-day moving average is $10.22. The stock has a market cap of $588.06 million, a PE ratio of -9.34 and a beta of 0.24.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Equities research analysts predict that Immix Biopharma will post -0.74 earnings per share for the current year.

About Immix Biopharma

Immix Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing cell therapies for cancer and autoimmune diseases. The company's research centers on treatments designed to use a patient's immune system to identify and attack disease-related cells.

Its lead product candidate is NXC-201, an investigational autologous CAR T-cell therapy targeting B-cell maturation antigen (BCMA), a protein found on malignant plasma cells. NXC-201 is being evaluated in clinical studies involving patients with relapsed or refractory AL amyloidosis and multiple myeloma, including the company's NEXICART-1 study.

Immix Biopharma was founded in 2012 and is based in Los Angeles, California.

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