Immix Biopharma (NASDAQ:IMMX) Shares Climb 6.3% - What's Next?

Key Points

• Immix Biopharma shares rose 6.3% to about $8.74 in midday trading, though volume was approximately 97% below the average session level.
• Analyst sentiment remains largely positive: eight analysts rate the stock Buy versus one Sell, producing a “Moderate Buy” consensus and an average price target of $24.29.
• The clinical-stage biotech’s lead candidate, NXC-201, is an investigational CAR T-cell therapy being studied for relapsed or refractory AL amyloidosis and multiple myeloma; the company recently reported a quarterly EPS loss of $0.18, slightly worse than estimates.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report)'s share price shot up 6.3% during mid-day trading on Tuesday. The company traded as high as $8.46 and last traded at $8.7390. Approximately 45,095 shares traded hands during trading, a decline of 97% from the average session volume of 1,321,504 shares. The stock had previously closed at $8.22.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup reiterated a "market outperform" rating on shares of Immix Biopharma in a report on Wednesday, September 30th. Mizuho lifted their price target on Immix Biopharma from $15.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, September 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immix Biopharma in a research note on Thursday. Needham & Company LLC lifted their price objective on Immix Biopharma from $21.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, September 29th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Immix Biopharma in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.29.

Immix Biopharma Stock Up 5.8%

The company has a 50-day moving average of $11.71 and a 200 day moving average of $10.22. The firm has a market capitalization of $622.04 million, a PE ratio of -9.88 and a beta of 0.24.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). As a group, equities analysts anticipate that Immix Biopharma, Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Immix Biopharma

Large investors have recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in shares of Immix Biopharma in the 2nd quarter valued at about $100,816,000. Janus Henderson Group PLC boosted its holdings in Immix Biopharma by 22.5% in the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company's stock valued at $43,698,000 after acquiring an additional 880,434 shares in the last quarter. BlackRock Inc. bought a new stake in Immix Biopharma in the second quarter valued at $30,827,000. Opaleye Management Inc. purchased a new position in Immix Biopharma during the 2nd quarter valued at $24,177,000. Finally, Wellington Management Group LLP purchased a new position in Immix Biopharma during the 2nd quarter valued at $15,191,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

About Immix Biopharma

Immix Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing cell therapies for cancer and autoimmune diseases. The company's research centers on treatments designed to use a patient's immune system to identify and attack disease-related cells.

Its lead product candidate is NXC-201, an investigational autologous CAR T-cell therapy targeting B-cell maturation antigen (BCMA), a protein found on malignant plasma cells. NXC-201 is being evaluated in clinical studies involving patients with relapsed or refractory AL amyloidosis and multiple myeloma, including the company's NEXICART-1 study.

Immix Biopharma was founded in 2012 and is based in Los Angeles, California.

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