Indaptus Therapeutics, Inc. (NASDAQ:INDP) Shares Shorted: Short Interest Up 331.5% in September

Indaptus Therapeutics, Inc. (NASDAQ:INDP) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 916,352 shares, a growth of 331.5% from the August 31st total of 212,357 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 2,311,369 shares, the short-interest ratio is currently 0.4 days.

Indaptus Therapeutics Stock Down 3.7%

Indaptus Therapeutics stock traded down $0.15 during trading hours on Friday, hitting $3.85. The stock had a trading volume of 570,038 shares, compared to its average volume of 1,495,965. The business’s 50 day simple moving average is $1.94 and its 200-day simple moving average is $2.25. Indaptus Therapeutics has a one year low of $0.92 and a one year high of $8.57. The stock has a market cap of $512.97 million, a price-to-earnings ratio of -0.61 and a beta of 1.17.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on INDP. Wall Street Zen upgraded Indaptus Therapeutics to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Indaptus Therapeutics in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

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.