Short Interest in Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) Declines By 38.7%

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 16,698 shares, a drop of 38.7% from the June 15th total of 27,250 shares. Based on an average daily volume of 39,560 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Bolt Biotherapeutics in a research note on Thursday, May 28th. Rodman & Renshaw began coverage on shares of Bolt Biotherapeutics in a research note on Thursday, May 28th. They set a “buy” rating and a $22.00 target price for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Bolt Biotherapeutics in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.67.

Institutional Trading of Bolt Biotherapeutics

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in shares of Bolt Biotherapeutics by 40.3% during the 1st quarter. Renaissance Technologies LLC now owns 77,225 shares of the company’s stock valued at $312,000 after acquiring an additional 22,200 shares during the period. T3 Companies LLC acquired a new stake in Bolt Biotherapeutics in the fourth quarter worth $208,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Bolt Biotherapeutics in the fourth quarter valued at $112,000. Susquehanna International Group LLP bought a new stake in Bolt Biotherapeutics in the third quarter valued at $89,000. Finally, Shay Capital LLC bought a new stake in Bolt Biotherapeutics in the third quarter valued at $85,000. Institutional investors own 86.70% of the company’s stock.

Bolt Biotherapeutics Trading Up 4.0%

NASDAQ BOLT opened at $4.21 on Thursday. The business has a 50 day simple moving average of $4.48 and a 200 day simple moving average of $4.89. Bolt Biotherapeutics has a one year low of $3.75 and a one year high of $7.20. The stock has a market capitalization of $8.08 million, a P/E ratio of -0.26 and a beta of 1.16. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.51 and a quick ratio of 3.51.

Bolt Biotherapeutics (NASDAQ:BOLT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($4.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.85) by ($1.46). Bolt Biotherapeutics had a negative net margin of 455.15% and a negative return on equity of 100.89%. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.50 million. Research analysts expect that Bolt Biotherapeutics will post -11.1 earnings per share for the current year.

Bolt Biotherapeutics Company Profile

Bolt Biotherapeutics is a clinical-stage immuno-oncology company focused on developing novel targeted therapies that engage both innate and adaptive immune responses against cancer. The company’s proprietary Biologics-Driven Checkpoint (BDC) platform combines tumor-targeting antibodies with innate immune agonists to activate antigen-presenting cells within the tumor microenvironment, thereby promoting robust T-cell mediated tumor cell killing. Its lead candidate, BDC-1001, couples a HER2-directed monoclonal antibody with a Toll-like receptor 7/8 agonist and is currently in Phase I clinical trials for HER2-positive solid tumors.