Immix Biopharma (NASDAQ:IMMX) Shares Up 1.9% - Here's Why

Key Points

• Immix Biopharma's stock rose 1.9% to $2.75, with a trading volume that increased by 39% from its average, reflecting growing investor interest.
• Analysts maintain a "buy" rating for the stock, with HC Wainwright setting a price target of $7.00, indicating potential growth.
• Jane Street Group recently acquired 17,523 shares of Immix Biopharma, showcasing interest from institutional investors in the company's prospects.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report)'s stock price was up 1.9% on Wednesday . The company traded as high as $2.83 and last traded at $2.75. Approximately 287,213 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 207,263 shares. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IMMX shares. Wall Street Zen raised shares of Immix Biopharma to a "hold" rating in a research note on Friday, June 27th. HC Wainwright reissued a "buy" rating and set a $7.00 target price on shares of Immix Biopharma in a research note on Wednesday, June 4th.

Immix Biopharma Stock Performance

The company's 50 day moving average price is $2.48 and its 200 day moving average price is $2.06. The company has a market cap of $73.88 million, a price-to-earnings ratio of -3.79 and a beta of 0.28.

Hedge Funds Weigh In On Immix Biopharma

A hedge fund recently bought a new stake in Immix Biopharma stock. Jane Street Group LLC bought a new position in Immix Biopharma, Inc. (NASDAQ:IMMX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,523 shares of the company's stock, valued at approximately $39,000. Jane Street Group LLC owned about 0.06% of Immix Biopharma at the end of the most recent quarter. 11.26% of the stock is owned by hedge funds and other institutional investors.

About Immix Biopharma

Immix Biopharma, Inc, a clinical-stage biopharmaceutical company, engages in developing tissue-specific therapeutics in oncology and inflammation in the United States and Australia. The company is developing IMX-110 that is in Phase 1b/2a clinical trials for the treatment of soft tissue sarcoma and solid tumors; IMX-111, a tissue-specific biologic for the treatment of colorectal cancers; and IMX-120, a tissue-specific biologic for the treatment of ulcerative colitis and severe Crohn's disease.