Short Interest in Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) Drops By 7.0%

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 1,980,000 shares, a decline of 7.0% from the May 15th total of 2,130,000 shares. Approximately 8.2% of the shares of the company are short sold. Based on an average daily volume of 231,600 shares, the days-to-cover ratio is currently 8.5 days.

Bolt Biotherapeutics Trading Down 2.5 %

NASDAQ BOLT opened at $0.74 on Wednesday. The firm’s 50-day moving average is $0.97 and its two-hundred day moving average is $1.08. Bolt Biotherapeutics has a 12 month low of $0.73 and a 12 month high of $1.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.68 and a quick ratio of 5.68. The stock has a market capitalization of $28.03 million, a P/E ratio of -0.44 and a beta of 0.93.

Bolt Biotherapeutics (NASDAQ:BOLT) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.23. The business had revenue of $5.27 million for the quarter, compared to analysts’ expectations of $2.63 million. Bolt Biotherapeutics had a negative net margin of 556.59% and a negative return on equity of 51.74%. On average, sell-side analysts anticipate that Bolt Biotherapeutics will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BOLT. Stifel Nicolaus reissued a “hold” rating and issued a $1.50 price target (down previously from $6.00) on shares of Bolt Biotherapeutics in a report on Wednesday, May 15th. Leerink Partnrs lowered shares of Bolt Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 14th. SVB Leerink reaffirmed a “market perform” rating and set a $1.00 target price (down previously from $3.00) on shares of Bolt Biotherapeutics in a report on Wednesday, May 15th. Guggenheim reaffirmed a “neutral” rating on shares of Bolt Biotherapeutics in a report on Wednesday, May 15th. Finally, HC Wainwright reissued a “neutral” rating on shares of Bolt Biotherapeutics in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.50.

Institutional Trading of Bolt Biotherapeutics

An institutional investor recently raised its position in Bolt Biotherapeutics stock. Newtyn Management LLC lifted its holdings in shares of Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,020,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Newtyn Management LLC owned about 2.69% of Bolt Biotherapeutics worth $1,061,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 86.70% of the company’s stock.

Bolt Biotherapeutics Company Profile

Bolt Biotherapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of immunotherapies for the treatment of cancer. The company's lead product candidate BDC-1001, which is in clinical development for the treatment of patients with human epidermal growth factor receptor 2- positive solid tumors, including breast, colorectal, endometrial, and gastroesophageal cancer.