Indaptus Therapeutics Inc. [NASDAQ: INDP] gained 18.80% on the last trading session, reaching $2.97 price per share at the time. The company report on May 19, 2022 that Indaptus Therapeutics Announces FDA Clearance of Investigational New Drug Application to Initiate Phase 1 Clinical Trial of Decoy20 in Solid Tumors.
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Indaptus Therapeutics, Inc. (Nasdaq: INDP) (“Indaptus” or the “Company”), today announced that the U.S. Food and Drug Administration (FDA) has cleared the Company’s Investigational New Drug (IND) application for a Phase 1 clinical trial in patients with advanced solid tumors where currently approved therapies have failed. The Company plans to initiate the clinical trial in the second half of 2022.
“We are excited to begin our first in human study of Decoy20, as there is still a significant unmet medical need for patients with advanced solid tumors. This is an important milestone for Indaptus, which brings us one step closer to our goal of demonstrating the utility of a multi-targeted and antigen-agnostic, systemic immunotherapy that primes and activates both innate and adaptive anti-tumor immune responses,” said Jeffrey Meckler, Chief Executive Officer of Indaptus.
Indaptus Therapeutics Inc. represents 7.74 million in outstanding shares, while the company has a total market value of $22.99 million with the latest information. INDP stock price has been found in the range of $2.80 to $3.18.
If compared to the average trading volume of 40.62K shares, INDP reached a trading volume of 25538919 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Indaptus Therapeutics Inc. [INDP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INDP shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INDP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Indaptus Therapeutics Inc. is set at 0.29 The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 4.29.
Trading performance analysis for INDP stock
Indaptus Therapeutics Inc. [INDP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.02. With this latest performance, INDP shares dropped by -13.34% in over the last four-week period, additionally sinking by -49.92% over the last 6 months – not to mention a drop of -80.20% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INDP stock in for the last two-week period is set at 50.79, with the RSI for the last a single of trading hit 59.20, and the three-weeks RSI is set at 46.50 for Indaptus Therapeutics Inc. [INDP]. The present Moving Average for the last 50 days of trading for this stock 3.36, while it was recorded at 2.57 for the last single week of trading.
Indaptus Therapeutics Inc. [INDP]: A deeper dive into fundamental analysis
Return on Equity for this stock declined to -30.58, with Return on Assets sitting at -25.09.
Indaptus Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.00 and a Current Ratio set at 10.00.
An analysis of insider ownership at Indaptus Therapeutics Inc. [INDP]
There are presently around $4 million, or 20.10% of INDP stock, in the hands of institutional investors. The top three institutional holders of INDP stocks are: STRATOS WEALTH PARTNERS, LTD. with ownership of 1,188,356, which is approximately -14.406% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 242,235 shares of the stock with an approximate value of $0.61 million in INDP stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.28 million in INDP stock with ownership of nearly 31.58% of the company’s market capitalization.
Positions in Indaptus Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 8 institutional holders increased their position in Indaptus Therapeutics Inc. [NASDAQ:INDP] by around 119,240 shares. Additionally, 7 investors decreased positions by around 243,025 shares, while 6 investors held positions by with 1,350,429 shares. The mentioned changes placed institutional holdings at 1,712,694 shares, according to the latest SEC report filing. INDP stock had 6 new institutional investments in for a total of 53,892 shares, while 3 institutional investors sold positions of 41,080 shares during the same period.