LGT Fund Management Co Ltd. Acquires 291,594 Shares of Immix Biopharma, Inc. $IMMX

Key Points

• LGT Fund Management increased its stake in Immix Biopharma by 233.3% in the first quarter, buying 291,594 additional shares and bringing its total holding to 416,594 shares worth about $3.8 million.
• Analyst sentiment on IMMX is mixed but generally constructive: the stock currently has a “Moderate Buy” consensus with a target price of $20.67, though some firms have issued sell ratings.
• Immix Biopharma shares opened at $11.11, near their 52-week high of $12.14, after the company recently reported quarterly earnings of ($0.18) per share, slightly better than expectations.

LGT Fund Management Co Ltd. increased its stake in Immix Biopharma, Inc. (NASDAQ:IMMX - Free Report) by 233.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,594 shares of the company's stock after acquiring an additional 291,594 shares during the period. LGT Fund Management Co Ltd. owned approximately 0.79% of Immix Biopharma worth $3,795,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in shares of Immix Biopharma in the 4th quarter valued at approximately $30,000. Mathes Company Inc. bought a new stake in Immix Biopharma in the fourth quarter worth $56,000. Balyasny Asset Management L.P. purchased a new position in Immix Biopharma during the fourth quarter worth $67,000. Kera Capital Partners Inc. bought a new position in Immix Biopharma during the fourth quarter valued at $68,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Immix Biopharma in the fourth quarter valued at $112,000. 11.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citizens Jmp restated a "market outperform" rating and issued a $23.00 target price on shares of Immix Biopharma in a report on Friday, March 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Immix Biopharma in a research report on Tuesday, April 21st. Lifesci Capital started coverage on shares of Immix Biopharma in a research note on Wednesday, June 17th. They issued an "outperform" rating and a $19.00 price objective for the company. Citigroup assumed coverage on Immix Biopharma in a report on Thursday, June 18th. They set a "buy" rating for the company. Finally, Wall Street Zen downgraded shares of Immix Biopharma from a "hold" rating to a "sell" rating in a research note on Sunday, March 15th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.67.

Immix Biopharma Price Performance

Shares of Immix Biopharma stock opened at $11.11 on Monday. The company has a 50 day moving average price of $9.41 and a 200 day moving average price of $8.26. The firm has a market capitalization of $604.51 million, a P/E ratio of -12.08 and a beta of 0.09. Immix Biopharma, Inc. has a 52 week low of $1.94 and a 52 week high of $12.14.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.01. As a group, research analysts anticipate that Immix Biopharma, Inc. will post -0.69 earnings per share for the current fiscal year.

Immix Biopharma Company Profile

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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