Indaptus Therapeutics, Inc. (NASDAQ:INDP) Stock Short Interest Jumps 331.5%

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INDP. Wall Street Zen upgraded shares of Indaptus Therapeutics to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings reiterated 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 data from MarketBeat, Indaptus Therapeutics presently has a consensus rating of “Sell”.

Indaptus Therapeutics Stock Down 5.6%

Shares of INDP stock traded down $0.23 on Friday, hitting $3.77. The company had a trading volume of 146,281 shares, compared to its average volume of 629,628. Indaptus Therapeutics has a twelve month low of $0.92 and a twelve month high of $8.57. The firm has a market cap of $502.98 million, a P/E ratio of -0.60 and a beta of 1.17. The company has a 50-day moving average price of $1.91 and a 200-day moving average price of $2.24.

Indaptus Therapeutics (NASDAQ:INDP) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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.