Indaptus Therapeutics Inc. experienced a significant price increase of 9.93%, crossing above the 5-day SMA, despite the broader market's decline with the Nasdaq-100 down 0.32% and the S&P 500 down 0.29%.
This surge is attributed to the company's announcement of a $6 million securities purchase agreement with investor David E. Lazar, which includes the issuance of 300,000 shares of non-voting convertible Series AA preferred stock and 700,000 shares of Series AAA preferred stock. This investment is expected to bolster the company's capital base and support future strategic developments, alongside a leadership change with Lazar appointed as Co-CEO and Chairman of the Board.
The implications of this investment are significant, as it not only strengthens the company's financial position but also reflects a strategic shift in leadership aimed at enhancing shareholder value and exploring new opportunities in cancer and viral infection treatments.
Wall Street analysts forecast INDP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for INDP is 10.00 USD with a low forecast of 10.00 USD and a high forecast of 10.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
Wall Street analysts forecast INDP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for INDP is 10.00 USD with a low forecast of 10.00 USD and a high forecast of 10.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 2.190
Low
10.00
Averages
10.00
High
10.00
Current: 2.190
Low
10.00
Averages
10.00
High
10.00
No data
About INDP
Indaptus Therapeutics, Inc. is a clinical-stage biotechnology company, which specializes in cancer and viral infection treatments. The Company’s approach is based on the hypothesis that activation of both innate and adaptive immune cells and pathways and associated anti-tumor and anti-viral immune responses will require a multi-targeted package of immune system-activating signals that can be administered safely intravenously (i.v.). Its technology is composed of single strains of attenuated and killed, non-pathogenic, Gram-negative bacteria producing a multiple Toll-like receptor (TLR), Nucleotide oligomerization domain (NOD)-like receptor (NLR) and Stimulator of interferon genes (STING) agonist Decoy platform. The Company's lead clinical candidate is Decoy20. Its Decoy product candidates have also produced significant single agent activity against chronic hepatitis B virus (HBV) and chronic human immunodeficiency virus (HIV) infections in pre-clinical models.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
