Immix Biopharma (NASDAQ:IMMX) Sees Strong Trading Volume - Here's What Happened

Key Points

• Immix Biopharma shares saw elevated trading activity, with 1.48 million shares changing hands—14% more than in the prior session. The stock traded at $10.283, down from its previous close of $11.47.
• Analyst sentiment remains broadly positive: eight analysts rate the stock a Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $22.86.
• The company reported a quarterly loss of $0.18 per share, slightly below estimates, while institutional investors own 11.26% of the stock after several major funds recently initiated positions.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) shares saw an uptick in trading volume on Tuesday. 1,475,558 shares traded hands during mid-day trading, an increase of 14% from the previous session's volume of 1,289,672 shares. The stock last traded at $10.2830 and had previously closed at $11.47.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Immix Biopharma in a report on Friday, July 17th. HC Wainwright increased their price target on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Needham & Company LLC started 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. Bank of America assumed coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They set a "buy" rating and a $27.00 price objective for the company. Finally, Citigroup restated a "market outperform" rating on shares of Immix Biopharma in a report on Friday, August 14th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.86.

Immix Biopharma Price Performance

The company has a market cap of $749.67 million, a PE ratio of -11.71 and a beta of 0.20. The company has a 50-day moving average price of $11.62 and a two-hundred day moving average price of $10.23.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). On average, equities research analysts anticipate that Immix Biopharma, Inc. will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Immix Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC bought a new stake in Immix Biopharma in the second quarter valued at about $100,816,000. BlackRock Inc. acquired a new stake in Immix Biopharma during the second quarter valued at approximately $30,827,000. Eventide Asset Management LLC bought a new position in Immix Biopharma during the 4th quarter worth approximately $13,331,000. Opaleye Management Inc. bought a new position in Immix Biopharma during the 2nd quarter worth approximately $24,177,000. Finally, Wellington Management Group LLP acquired a new position in shares of Immix Biopharma in the 2nd quarter worth approximately $15,191,000. Institutional investors own 11.26% of the company's stock.

Immix Biopharma Company Profile

Immix Biopharma, Inc NASDAQ: IMMX is a clinical-stage biopharmaceutical company developing cell therapies for cancer and autoimmune diseases. The company focuses on treatments designed to target disease-associated cells and address serious conditions with limited therapeutic options.

Its lead product candidate is NXC-201, an autologous chimeric antigen receptor T-cell (CAR-T) therapy targeting B-cell maturation antigen (BCMA). NXC-201 is being investigated for relapsed or refractory AL amyloidosis and multiple myeloma, two diseases involving abnormal plasma cells.

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