Indaptus Therapeutics (NASDAQ:INDP) Stock Falls 7.7% – Here’s Why

Indaptus Therapeutics, Inc. (NASDAQ:INDP)’s share price dropped 7.7% on Friday. The stock traded as low as $2.55 and last traded at $2.63. 496,216 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 609,792 shares. The stock had previously closed at $2.85.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Indaptus Therapeutics in a report on Thursday. Wall Street Zen upgraded shares of Indaptus Therapeutics to a “hold” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Indaptus Therapeutics Trading Down 7.7%

The firm has a fifty day moving average of $2.14 and a 200 day moving average of $2.32. The company has a market capitalization of $350.42 million, a P/E ratio of -0.42 and a beta of 0.97.

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

Indaptus Therapeutics Company Profile

Indaptus Therapeutics, Inc is a clinical-stage biotechnology company developing novel immunotherapies for cancer and other serious diseases. The company’s approach is designed to stimulate the body’s innate and adaptive immune responses while limiting the toxicity associated with certain bacterial components.

Indaptus’ technology platform uses detoxified bacterial toxins, referred to as “DeTocs,” to activate immune cells. Its lead product candidate, Decoy20, is an investigational combination of detoxified toxins being developed as a potential treatment for solid tumors.