HC Wainwright Initiates Coverage on Immix Biopharma (NASDAQ:IMMX)

Analysts at HC Wainwright started coverage on shares of Immix Biopharma (NASDAQ:IMMX) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 257.14% from the company’s previous close.

Immix Biopharma Stock Performance

NASDAQ IMMX opened at $1.96 on Monday. The firm has a market cap of $51.76 million, a PE ratio of -2.11 and a beta of 0.17. Immix Biopharma has a one year low of $1.55 and a one year high of $7.75. The firm’s fifty day moving average is $2.15 and its two-hundred day moving average is $3.36.

Immix Biopharma (NASDAQ:IMMX) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Research analysts predict that Immix Biopharma will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMMX. OLD National Bancorp IN acquired a new position in Immix Biopharma in the fourth quarter valued at $69,000. Tritonpoint Wealth LLC purchased a new stake in shares of Immix Biopharma in the first quarter valued at about $75,000. Tocqueville Asset Management L.P. boosted its holdings in shares of Immix Biopharma by 89.0% in the first quarter. Tocqueville Asset Management L.P. now owns 37,800 shares of the company’s stock valued at $116,000 after acquiring an additional 17,800 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Immix Biopharma in the fourth quarter valued at about $128,000. Finally, Imprint Wealth LLC boosted its holdings in shares of Immix Biopharma by 49.4% in the fourth quarter. Imprint Wealth LLC now owns 34,483 shares of the company’s stock valued at $239,000 after acquiring an additional 11,400 shares in the last quarter. 11.26% of the stock is currently owned by institutional investors and hedge funds.

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.