Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) Short Interest Down 86.2% in August

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 243,100 shares, a decline of 86.2% from the July 31st total of 1,760,000 shares. Based on an average daily trading volume, of 176,100 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.9% of the shares of the company are sold short.

Institutional Investors Weigh In On Bolt Biotherapeutics

An institutional investor recently raised its position in Bolt Biotherapeutics stock. Acuitas Investments LLC increased its stake in shares of Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) by 21.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 630,507 shares of the company’s stock after buying an additional 112,555 shares during the period. Acuitas Investments LLC owned 1.65% of Bolt Biotherapeutics worth $473,000 at the end of the most recent quarter. Institutional investors and hedge funds own 86.70% of the company’s stock.

Bolt Biotherapeutics Stock Performance

BOLT stock traded up $0.01 on Tuesday, reaching $0.69. 99,835 shares of the company were exchanged, compared to its average volume of 175,355. Bolt Biotherapeutics has a 12 month low of $0.65 and a 12 month high of $1.56. The stock’s fifty day moving average price is $0.72 and its 200 day moving average price is $0.96. The firm has a market capitalization of $26.14 million, a PE ratio of -0.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.68 and a quick ratio of 5.68.

Bolt Biotherapeutics (NASDAQ:BOLT) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.08). The business had revenue of $1.28 million during the quarter, compared to the consensus estimate of $1.19 million. Bolt Biotherapeutics had a negative net margin of 556.59% and a negative return on equity of 51.74%. On average, research analysts anticipate that Bolt Biotherapeutics will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BOLT. Leerink Partnrs cut shares of Bolt Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Guggenheim restated a “neutral” rating on shares of Bolt Biotherapeutics in a research note on Wednesday, May 15th. HC Wainwright reaffirmed a “neutral” rating on shares of Bolt Biotherapeutics in a research report on Thursday, August 15th. Leerink Partners reaffirmed a “market perform” rating and set a $1.00 target price (down previously from $3.00) on shares of Bolt Biotherapeutics in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $1.50 target price (down previously from $6.00) on shares of Bolt Biotherapeutics in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.50.

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.