Immix Biopharma (NASDAQ:IMMX) Trading 4.5% Higher – What’s Next?

Immix Biopharma, Inc. (NASDAQ:IMMX) shot up 4.5% on Wednesday . The stock traded as high as $4.17 and last traded at $4.15. 480,165 shares were traded during trading, a decline of 15% from the average session volume of 562,120 shares. The stock had previously closed at $3.97.

Wall Street Analysts Forecast Growth

IMMX has been the topic of several recent research reports. Zacks Research lowered Immix Biopharma from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Wall Street Zen cut Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. HC Wainwright boosted their price target on shares of Immix Biopharma from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

Immix Biopharma Price Performance

The stock has a market capitalization of $139.36 million, a price-to-earnings ratio of -5.39 and a beta of 0.33. The firm has a 50 day simple moving average of $3.27 and a 200-day simple moving average of $2.68.

Immix Biopharma (NASDAQ:IMMX) last posted its earnings results on Friday, November 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). On average, sell-side analysts forecast that Immix Biopharma, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Tritonpoint Wealth LLC bought a new stake in Immix Biopharma during the 2nd quarter worth approximately $51,000. Velan Capital Investment Management LP bought a new stake in shares of Immix Biopharma during the second quarter worth $52,000. Tocqueville Asset Management L.P. grew its holdings in shares of Immix Biopharma by 37.4% during the third quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock worth $84,000 after purchasing an additional 10,950 shares during the last quarter. Imprint Wealth LLC acquired a new stake in shares of Immix Biopharma in the third quarter valued at $141,000. Finally, United Capital Financial Advisors LLC bought a new position in shares of Immix Biopharma in the third quarter valued at about $148,000. Institutional investors own 11.26% of the company’s stock.

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.