Velan Capital Investment Management LP increased its stake in shares of Immix Biopharma, Inc. (NASDAQ:IMMX – Free Report) by 46.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,085,000 shares of the company’s stock after buying an additional 345,000 shares during the period. Immix Biopharma accounts for about 6.8% of Velan Capital Investment Management LP’s portfolio, making the stock its 4th largest holding. Velan Capital Investment Management LP’s holdings in Immix Biopharma were worth $11,186,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP bought a new position in Immix Biopharma in the 4th quarter valued at about $30,000. Legal & General Group Plc acquired a new stake in Immix Biopharma during the second quarter worth approximately $41,000. Mathes Company Inc. bought a new stake in shares of Immix Biopharma during the fourth quarter worth approximately $56,000. Compass Financial Management LLC bought a new stake in shares of Immix Biopharma during the second quarter worth approximately $56,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Immix Biopharma in the fourth quarter valued at approximately $67,000. Institutional investors and hedge funds own 11.26% of the company’s stock.
Immix Biopharma Stock Performance
Immix Biopharma stock opened at $14.01 on Wednesday. Immix Biopharma, Inc. has a 52 week low of $1.94 and a 52 week high of $15.10. The stock has a market capitalization of $1.00 billion, a P/E ratio of -15.92 and a beta of 0.20. The stock has a fifty day moving average of $10.79 and a 200-day moving average of $9.67.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Bank of America started coverage on Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating and a $27.00 target price on the stock. Lifesci Capital initiated coverage on Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price objective on the stock. Needham & Company LLC initiated coverage on Immix Biopharma in a research report on Wednesday, July 22nd. They set a “buy” rating and a $21.00 price objective on the stock. HC Wainwright lifted their target price on Immix Biopharma from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Morgan Stanley decreased their price target on shares of Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Immix Biopharma presently has an average rating of “Moderate Buy” and an average price target of $21.29.
Check Out Our Latest Stock Report on IMMX
Immix Biopharma Company Profile
Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.
The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.
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