Bolt Biotherapeutics (NASDAQ:BOLT) Share Price Breaks Below 200-Day Moving Average – Here’s What Happened

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.23 and traded as low as $3.45. Bolt Biotherapeutics shares last traded at $3.53, with a volume of 23,259 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bolt Biotherapeutics in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Bolt Biotherapeutics Price Performance

The company has a market cap of $7.04 million, a P/E ratio of -0.22 and a beta of 1.00. The firm’s 50-day moving average is $3.71 and its two-hundred day moving average is $4.22. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.61 and a quick ratio of 2.61.

Bolt Biotherapeutics (NASDAQ:BOLT) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($4.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.39) by ($1.18). The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.50 million. Bolt Biotherapeutics had a negative net margin of 611.47% and a negative return on equity of 126.23%. Analysts anticipate that Bolt Biotherapeutics, Inc. will post -11.1 earnings per share for the current year.

Insider Activity

In other Bolt Biotherapeutics news, CEO William Quinn sold 9,132 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $3.24, for a total transaction of $29,587.68. Following the transaction, the chief executive officer owned 25,384 shares of the company’s stock, valued at approximately $82,244.16. This trade represents a 26.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 38,584 shares of company stock worth $128,361. 9.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BOLT. Nan Fung Group Holdings Ltd acquired a new stake in Bolt Biotherapeutics in the second quarter worth about $19,250. Renaissance Technologies LLC raised its position in shares of Bolt Biotherapeutics by 40.3% in the 1st quarter. Renaissance Technologies LLC now owns 77,225 shares of the company’s stock valued at $312,000 after purchasing an additional 22,200 shares during the last quarter. Finally, T3 Companies LLC acquired a new stake in Bolt Biotherapeutics in the 4th quarter worth approximately $208,000. 86.70% of the stock is owned by institutional investors.

About Bolt Biotherapeutics

Bolt Biotherapeutics, Inc is a clinical-stage biotechnology company focused on developing immunotherapies for cancer. The company’s research is based on its Boltbody Immune-Stimulating Antibody Conjugate (ISAC) platform, which is designed to combine the tumor-targeting ability of antibodies with agents that activate the innate immune system.

Bolt’s approach is intended to recruit and stimulate immune cells within the tumor microenvironment, potentially helping the body recognize and attack cancer cells.