Immix Biopharma (NASDAQ:IMMX) Stock Jumps 4.1% - Time to Buy?

Key Points

• Immix Biopharma shares rose 4.1% to approximately $11.43, although trading volume was 76% below the average session volume.
• Wall Street sentiment is broadly positive: eight analysts rate the stock a Buy, one rates it a Sell, and the consensus target price is $22.86. Recent targets range from $19 to $25.
• The clinical-stage biotech missed quarterly earnings expectations, reporting a loss of $0.18 per share versus the expected $0.17 loss, while analysts forecast a full-year loss of $0.73 per share. Its lead candidate, NXC-201, is a CAR-T therapy being tested for relapsed or refractory AL amyloidosis and multiple myeloma.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) shares were up 4.1% during mid-day trading on Monday. The stock traded as high as $11.37 and last traded at $11.4250. Approximately 314,931 shares were traded during trading, a decline of 76% from the average session volume of 1,286,555 shares. The stock had previously closed at $10.97.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IMMX. HC Wainwright raised their target price on shares of Immix Biopharma from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Needham & Company LLC initiated coverage on shares of Immix Biopharma in a research report on Wednesday, July 22nd. They set a "buy" rating and a $21.00 price target for the company. Citigroup reiterated a "market outperform" rating on shares of Immix Biopharma in a report on Friday, August 14th. Morgan Stanley cut their price objective on Immix Biopharma from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Immix Biopharma in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.86.

Immix Biopharma Price Performance

The firm has a market capitalization of $845.96 million, a price-to-earnings ratio of -13.27 and a beta of 0.20. The business's 50-day moving average price is $11.56 and its 200 day moving average price is $10.22.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last released its quarterly 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, sell-side analysts expect that Immix Biopharma, Inc. will post -0.73 earnings per share for the current year.

Institutional Trading of Immix Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in shares of Immix Biopharma in the second quarter worth about $41,000. Compass Financial Management LLC acquired a new stake in Immix Biopharma during the 2nd quarter valued at approximately $56,000. Kera Capital Partners Inc. purchased a new stake in Immix Biopharma during the 4th quarter worth approximately $68,000. Allworth Financial LP purchased a new stake in Immix Biopharma during the 2nd quarter worth approximately $75,000. Finally, Everhart Financial Group Inc. acquired a new position in shares of Immix Biopharma in the 2nd quarter valued at approximately $103,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

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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