Indaptus Therapeutics price target lowered to $5 from $8 at Maxim

Maxim analyst Jason McCarthy lowered the firm’s price target on Indaptus Therapeutics (INDP) to $5 from $8 but keeps a Buy rating on the shares. The company reported Q3 results with a net loss of ($3.0M) and ended the period with $7.4M in cash on the balance sheet, which should provide runway into Q1 of 2025, the analyst tells investors in a research note. Maxim anticipates another capital raise in the near-term, though it remains positive on the company’s Decoy20 program and looks forward to more updates from the multi-dosing portion of the Phase 1 study, the firm added.