Immix Biopharma (NASDAQ:IMMX) Sets New 12-Month High - Still a Buy?

Key Points

• Immix Biopharma shares reached a new 52-week high, trading as high as $12.76 and gaining 6.1%, while remaining above their 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with eight Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $21.29 target price, well above the recent trading level.
• The clinical-stage biotech reported a quarterly loss of $0.18 per share, slightly worse than the $0.17 consensus estimate. Institutional investors own 11.26% of the company, while its lead candidate, IMX-110, targets myeloid pathways in cancer immunotherapy.

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $12.76 and last traded at $12.6420, with a volume of 111559 shares traded. The stock had previously closed at $11.81.

Wall Street Analysts Forecast Growth

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

Immix Biopharma Trading Up 6.1%

The firm has a 50-day simple moving average of $9.78 and a two-hundred day simple moving average of $9.14. The company has a market capitalization of $896.75 million, a price-to-earnings ratio of -14.26 and a beta of 0.11.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last issued its quarterly earnings data 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). Equities research analysts anticipate that Immix Biopharma, Inc. will post -0.74 EPS for the current year.

Institutional Investors Weigh In On Immix Biopharma

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

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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