Short Interest in Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) Drops By 6.6%

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 1,850,000 shares, a drop of 6.6% from the May 31st total of 1,980,000 shares. Based on an average daily volume of 233,700 shares, the days-to-cover ratio is presently 7.9 days. Approximately 7.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. HC Wainwright restated a “neutral” rating on shares of Bolt Biotherapeutics in a report on Wednesday, May 15th. SVB Leerink reaffirmed a “market perform” rating and set a $1.00 price objective (down previously from $3.00) on shares of Bolt Biotherapeutics in a research report on Wednesday, May 15th. 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 research report on Wednesday, May 15th. Leerink Partnrs downgraded shares of Bolt Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Guggenheim restated a “neutral” rating on shares of Bolt Biotherapeutics in a research note on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.50.

Bolt Biotherapeutics Price Performance

BOLT stock remained flat at $0.74 during mid-day trading on Wednesday. The company’s stock had a trading volume of 13,587 shares, compared to its average volume of 173,785. Bolt Biotherapeutics has a 1-year low of $0.72 and a 1-year high of $1.56. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $1.06.

Bolt Biotherapeutics (NASDAQ:BOLT) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.23. Bolt Biotherapeutics had a negative return on equity of 51.74% and a negative net margin of 556.59%. The company had revenue of $5.27 million during the quarter, compared to analyst estimates of $2.63 million. On average, equities analysts predict that Bolt Biotherapeutics will post -1.4 EPS for the current fiscal year.

About Bolt Biotherapeutics

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.