Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) Short Interest Down 44.8% in October

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 66,000 shares, a drop of 44.8% from the October 15th total of 119,500 shares. Based on an average trading volume of 130,800 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “neutral” rating on shares of Bolt Biotherapeutics in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.50.

Institutional Investors Weigh In On Bolt Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of BOLT. Acuitas Investments LLC raised its holdings in Bolt Biotherapeutics by 21.7% in the 2nd quarter. Acuitas Investments LLC now owns 630,507 shares of the company’s stock valued at $473,000 after buying an additional 112,555 shares during the period. FMR LLC increased its stake in Bolt Biotherapeutics by 33.2% during the third quarter. FMR LLC now owns 115,386 shares of the company’s stock worth $75,000 after purchasing an additional 28,773 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Bolt Biotherapeutics during the second quarter worth about $26,000. 86.70% of the stock is currently owned by institutional investors and hedge funds.

Bolt Biotherapeutics Stock Performance

Shares of BOLT traded down $0.06 during trading hours on Friday, reaching $0.57. 376,825 shares of the company traded hands, compared to its average volume of 165,925. Bolt Biotherapeutics has a 12-month low of $0.55 and a 12-month high of $1.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.16 and a quick ratio of 4.28. The business has a fifty day moving average price of $0.64 and a 200-day moving average price of $0.74.

Bolt Biotherapeutics (NASDAQ:BOLT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Bolt Biotherapeutics had a negative return on equity of 69.46% and a negative net margin of 665.56%. The firm had revenue of $1.14 million for the quarter, compared to analysts’ expectations of $1.02 million. On average, sell-side analysts predict that Bolt Biotherapeutics will post -1.52 earnings per share 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.