Indaptus Therapeutics, Inc. (NASDAQ:INDP) Sees Large Decrease in Short Interest

Key Points

• Short interest in Indaptus Therapeutics plunged 72.1% in June, falling to 137,594 shares by June 30 from 493,245 shares two weeks earlier. That leaves only 0.2% of the company’s shares sold short, with a days-to-cover ratio of 0.6.
• INDP shares rose 5.2% to $2.63 on Friday, though trading volume was below average. The stock remains far below its 52-week high of $12.98 and above its 52-week low of $0.92.
• The company recently beat earnings expectations, reporting EPS of -$0.23 versus the consensus estimate of -$1.87. Despite that surprise, analyst sentiment remains cautious, with a consensus rating of Sell.

Indaptus Therapeutics, Inc. (NASDAQ:INDP - Get Free Report) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 137,594 shares, a drop of 72.1% from the June 15th total of 493,245 shares. Currently, 0.2% of the company's shares are sold short. Based on an average daily volume of 239,554 shares, the days-to-cover ratio is presently 0.6 days.

Indaptus Therapeutics Trading Up 5.2%

Shares of NASDAQ:INDP traded up $0.13 during trading on Friday, reaching $2.63. 59,624 shares of the company traded hands, compared to its average volume of 172,465. The firm has a market capitalization of $297.82 million, a price-to-earnings ratio of -0.17 and a beta of 1.11. Indaptus Therapeutics has a 52-week low of $0.92 and a 52-week high of $12.98. The business's fifty day moving average is $2.53 and its 200-day moving average is $2.38.

Indaptus Therapeutics (NASDAQ:INDP - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($1.87) by $1.64.

Analysts Set New Price Targets

Several research firms have weighed in on INDP. Weiss Ratings reissued a "sell (e+)" rating on shares of Indaptus Therapeutics in a research note on Tuesday, April 21st. Wall Street Zen raised Indaptus Therapeutics to a "hold" rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

Institutional Trading of Indaptus Therapeutics

A hedge fund recently bought a new stake in Indaptus Therapeutics stock. Virtu Financial LLC acquired a new position in Indaptus Therapeutics, Inc. (NASDAQ:INDP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,997 shares of the company's stock, valued at approximately $55,000. Virtu Financial LLC owned approximately 1.72% of Indaptus Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 7.06% of the company's stock.

About Indaptus Therapeutics

Indaptus Therapeutics, Inc, is a clinical-stage biotechnology company focused on developing novel cell- and exosome-based immunotherapies for oncology and infectious diseases. Utilizing its proprietary Natural Killer (NK) Cell Platform, Indaptus engineers allogeneic NK cells with enhanced cytotoxicity and targeted tumor recognition. The company's Exo-NK Therapeutics program further leverages NK cell–derived exosomes to deliver bioactive molecules and amplify immune responses against disease.

Indaptus' pipeline includes multiple preclinical candidates that integrate chimeric antigen receptor (CAR) technology with NK cells and exosomes to address hematologic malignancies and solid tumors.

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