Bank of New York Mellon Corp Purchases New Shares in Immix Biopharma, Inc. $IMMX

Key Points

• Bank of New York Mellon acquired 235,720 shares of Immix Biopharma, valued at approximately $2.43 million, giving it a 0.43% stake. Institutional investors collectively own 11.26% of IMMX.
• IMMX shares opened at $13.91, near their 12-month high of $15.10, after rising above both the 50-day and 200-day moving averages. The company has a market capitalization of approximately $995 million.
• Analyst sentiment is broadly positive, with eight Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $21.29. Immix Biopharma slightly missed quarterly earnings expectations, reporting an EPS loss of $0.18 versus the $0.17 consensus loss.

Bank of New York Mellon Corp acquired a new position in shares of Immix Biopharma, Inc. (NASDAQ:IMMX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 235,720 shares of the company's stock, valued at approximately $2,430,000. Bank of New York Mellon Corp owned 0.43% of Immix Biopharma at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IMMX. Allworth Financial LP purchased a new position in shares of Immix Biopharma in the fourth quarter worth approximately $30,000. Everhart Financial Group Inc. acquired a new position in Immix Biopharma in the 2nd quarter worth approximately $103,000. Mathes Company Inc. acquired a new position in Immix Biopharma in the 4th quarter worth approximately $56,000. Balyasny Asset Management L.P. purchased a new position in Immix Biopharma during the 4th quarter worth approximately $67,000. Finally, Kera Capital Partners Inc. purchased a new position in Immix Biopharma during the 4th quarter worth approximately $68,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

Immix Biopharma Price Performance

NASDAQ IMMX opened at $13.91 on Tuesday. The stock has a market capitalization of $995.12 million, a PE ratio of -15.81 and a beta of 0.20. The company has a 50 day moving average price of $11.10 and a two-hundred day moving average price of $9.85. Immix Biopharma, Inc. has a 12-month low of $1.94 and a 12-month high of $15.10.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). As a group, equities analysts anticipate that Immix Biopharma, Inc. will post -0.74 EPS for the current year.

Analyst Ratings Changes

IMMX has been the subject of a number of research analyst reports. HC Wainwright increased their target price on Immix Biopharma from $20.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 10th. Citigroup reissued a "market outperform" rating on shares of Immix Biopharma in a research report on Friday, August 14th. Morgan Stanley reduced their price objective on Immix Biopharma from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Bank of America began coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a "buy" rating and a $27.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immix Biopharma in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.29.

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.

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