Indaptus Therapeutics (NASDAQ:INDP) Stock Price Down 8.3% – Here’s What Happened

Indaptus Therapeutics, Inc. (NASDAQ:INDP)’s share price was down 8.3% during mid-day trading on Wednesday . The stock traded as low as $2.60 and last traded at $2.65. Approximately 99,181 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,826,522 shares. The stock had previously closed at $2.89.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INDP. Wall Street Zen downgraded shares of Indaptus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Indaptus Therapeutics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Indaptus Therapeutics Stock Performance

The stock has a market cap of $5.57 million, a P/E ratio of -0.08 and a beta of 0.98. The company has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $4.66.

Indaptus Therapeutics (NASDAQ:INDP) last announced its earnings results on Wednesday, November 12th. The company reported ($2.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.17) by $1.19. As a group, sell-side analysts expect that Indaptus Therapeutics, Inc. will post -1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Indaptus Therapeutics

A hedge fund recently bought a new stake in Indaptus Therapeutics stock. Virtu Financial LLC purchased a new stake in shares of Indaptus Therapeutics, Inc. (NASDAQ:INDP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,997 shares of the company’s stock, valued at approximately $55,000. Virtu Financial LLC owned about 1.72% of Indaptus Therapeutics at the end of the most recent reporting period. 7.06% of the stock is currently owned by hedge funds and other institutional investors.

Indaptus Therapeutics Company Profile

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.