Indaptus Therapeutics, Inc. (NASDAQ:INDP) experienced a significant decline in short interest during January 2023. As of January 30, the company reported short interest totaling 19,386 shares, reflecting a remarkable drop of 71.5% from the 68,026 shares recorded on January 15. Currently, 1.1% of the company’s total shares are sold short, indicating reduced bearish sentiment among investors.
The days-to-cover ratio, which indicates how long it would take to cover all short positions based on average trading volume, is currently at 0.3 days. This calculation is based on an average daily volume of 72,538 shares traded.
Analysts Adjust Ratings on Indaptus Therapeutics
Several equities analysts have recently revised their ratings on Indaptus Therapeutics. On December 6, Wall Street Zen downgraded the company from a “hold” rating to a “sell” rating. Additionally, Weiss Ratings reaffirmed a “sell (e+)” rating on January 22. According to data from MarketBeat.com, the consensus among analysts is currently a “sell” rating for Indaptus Therapeutics.
Stock Performance Overview
In trading on Friday, the price of INDP shares increased by $0.11, reaching $1.76. During this session, 23,812 shares changed hands, compared to an average volume of 84,894 shares. The stock’s market capitalization stands at approximately $3.95 million, with a price-to-earnings (P/E) ratio of -0.06 and a beta of 0.98.
The stock has shown considerable volatility over the past year, with a fifty-day moving average of $2.48 and a two-hundred-day moving average of $3.67. The 52-week trading range for Indaptus Therapeutics spans from a low of $1.52 to a high of $47.60.
The company disclosed its latest earnings results on November 12, when it reported earnings per share of ($2.98), surpassing analysts’ expectations of ($4.17) by $1.19. Analysts predict that the company will report an earnings per share of ($1.79) for the current fiscal year.
Indaptus Therapeutics is a clinical-stage biotechnology firm focused on developing innovative cell- and exosome-based immunotherapies for oncology and infectious diseases. The company employs its proprietary Natural Killer (NK) Cell Platform to enhance the cytotoxicity and targeted tumor recognition of allogeneic NK cells. Its Exo-NK Therapeutics program utilizes NK cell-derived exosomes to deliver bioactive molecules, amplifying immune responses against various diseases.
Indaptus’ developmental pipeline includes multiple preclinical candidates that integrate chimeric antigen receptor (CAR) technology with NK cells and exosomes, aiming to address both hematologic malignancies and solid tumors.
