Immix Biopharma (NASDAQ:IMMX) Issues Quarterly Earnings Results

Key Points

• Immix Biopharma reported Q EPS of ($0.18), missing the Street estimate of ($0.14) by $0.04, and its shares fell $0.78 to $9.54 on the news.
• Analysts are broadly positive with a MarketBeat consensus of “Moderate Buy” and an average price target of $18.25, including bullish targets from Morgan Stanley ($20) and Citizens JMP ($23).
• Several institutional investors have recently added or initiated stakes, and hedge funds/other institutions now own about 11.26% of the company’s stock.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.04), FiscalAI reports.

Immix Biopharma Stock Performance

Shares of NASDAQ:IMMX traded down $0.78 on Thursday, reaching $9.54. The company's stock had a trading volume of 649,084 shares, compared to its average volume of 721,657. The company has a 50-day simple moving average of $9.34 and a 200 day simple moving average of $6.65. Immix Biopharma has a 52-week low of $1.87 and a 52-week high of $11.61. The company has a market cap of $505.72 million, a P/E ratio of -10.72 and a beta of 0.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. purchased a new stake in Immix Biopharma during the fourth quarter valued at approximately $67,000. Velan Capital Investment Management LP boosted its stake in Immix Biopharma by 40.0% during the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company's stock worth $73,000 after buying an additional 10,000 shares during the period. Tocqueville Asset Management L.P. increased its position in Immix Biopharma by 37.4% during the third quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company's stock valued at $84,000 after acquiring an additional 10,950 shares during the last quarter. Squarepoint Ops LLC bought a new position in Immix Biopharma during the fourth quarter valued at $112,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Immix Biopharma in the fourth quarter valued at $116,000. Hedge funds and other institutional investors own 11.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho upped their target price on shares of Immix Biopharma from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Wall Street Zen cut shares of Immix Biopharma from a "hold" rating to a "sell" rating in a research note on Sunday, March 15th. Morgan Stanley started coverage on shares of Immix Biopharma in a report on Wednesday, March 25th. They set an "overweight" rating and a $20.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Immix Biopharma in a research report on Tuesday, April 21st. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $23.00 target price on shares of Immix Biopharma in a report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.25.

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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