Wellington Management Group LLP Invests $15.19 Million in Immix Biopharma, Inc. $IMMX

Key Points

• Wellington Management acquired 1.47 million shares of Immix Biopharma worth approximately $15.19 million, representing a 2.06% stake. Hedge funds and institutional investors collectively own 11.26% of the company.
• Analyst sentiment is broadly positive, with eight Buy ratings and one Sell rating, resulting in a consensus “Moderate Buy” rating and an average price target of $21.29.
• IMMX opened at $13.91 and remains well above its 52-week low of $1.94, but the company reported a quarterly loss of $0.18 per share, slightly worse than the $0.17 consensus estimate.

Wellington Management Group LLP purchased a new position in Immix Biopharma, Inc. (NASDAQ:IMMX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,473,409 shares of the company's stock, valued at approximately $15,191,000. Wellington Management Group LLP owned 2.06% of Immix Biopharma at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in Immix Biopharma during the fourth quarter worth $30,000. Legal & General Group Plc purchased a new position in shares of Immix Biopharma in the second quarter valued at $41,000. Mathes Company Inc. purchased a new position in shares of Immix Biopharma in the fourth quarter valued at $56,000. Compass Financial Management LLC purchased a new position in shares of Immix Biopharma in the second quarter valued at $56,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Immix Biopharma during the 4th quarter worth $67,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on IMMX. HC Wainwright boosted their price objective 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. Needham & Company LLC started coverage on shares of Immix Biopharma in a research report on Wednesday, July 22nd. They set a "buy" rating and a $21.00 target price for the company. Morgan Stanley reduced their price target on shares of Immix Biopharma from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Bank of America began coverage on shares of Immix Biopharma in a research report on Thursday, June 18th. They issued a "buy" rating and a $27.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Immix Biopharma in a research note on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.29.

Immix Biopharma Stock Performance

Immix Biopharma stock opened at $13.91 on Tuesday. The stock has a 50-day moving average price of $11.10 and a 200 day moving average price of $9.85. Immix Biopharma, Inc. has a 52 week low of $1.94 and a 52 week high of $15.10. The stock has a market cap of $995.12 million, a PE ratio of -15.81 and a beta of 0.20.

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

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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