Indaptus Therapeutics, Inc. (NASDAQ:INDP) Short Interest Up 71.6% in August

Indaptus Therapeutics, Inc. (NASDAQ:INDP) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 212,357 shares, an increase of 71.6% from the August 15th total of 123,737 shares. Based on an average trading volume of 1,455,508 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on INDP shares. Weiss Ratings restated a “sell (e+)” rating on shares of Indaptus Therapeutics in a research report on Friday, July 17th. Wall Street Zen upgraded Indaptus Therapeutics to a “hold” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Indaptus Therapeutics Stock Down 6.7%

NASDAQ INDP traded down $0.26 during trading hours on Friday, hitting $3.67. The company’s stock had a trading volume of 593,464 shares, compared to its average volume of 625,798. The stock has a fifty day moving average of $1.81 and a 200 day moving average of $2.17. Indaptus Therapeutics has a twelve month low of $0.92 and a twelve month high of $8.57. The firm has a market capitalization of $488.73 million, a P/E ratio of -0.58 and a beta of 1.17.

Indaptus Therapeutics (NASDAQ:INDP) last released its earnings results on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.57) by $1.55.

About Indaptus Therapeutics

Indaptus Therapeutics, Inc is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s approach is designed to activate the body’s innate and adaptive immune systems to generate a broad, potentially durable therapeutic response.

Indaptus’s lead platform, Decoy20, is based on an engineered formulation of inactivated bacteria intended to stimulate immune cells without causing an active infection. The company has been evaluating Decoy20 as a treatment for advanced solid tumors, including in combination with other cancer therapies.