Bolt Biotherapeutics (NASDAQ:BOLT) Shares Pass Below 200-Day Moving Average of $2.16

Bolt Biotherapeutics, Inc. (NASDAQ:BOLTGet Rating) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.16 and traded as low as $1.75. Bolt Biotherapeutics shares last traded at $1.78, with a volume of 75,070 shares.

Wall Street Analysts Forecast Growth

Separately, SVB Leerink downgraded shares of Bolt Biotherapeutics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $4.00 in a report on Thursday, August 11th.

Bolt Biotherapeutics Price Performance

The stock’s fifty day moving average price is $2.12 and its 200-day moving average price is $2.16. The firm has a market cap of $67.00 million, a price-to-earnings ratio of -0.68 and a beta of 1.01. The company has a current ratio of 9.73, a quick ratio of 9.73 and a debt-to-equity ratio of 0.10.

Insider Activity at Bolt Biotherapeutics

In related news, major shareholder Holdings A/S Novo sold 800,000 shares of Bolt Biotherapeutics stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $2.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider now owns 3,703,991 shares in the company, valued at approximately $7,407,982. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Bolt Biotherapeutics

Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in shares of Bolt Biotherapeutics in the second quarter worth $30,000. Prudential Financial Inc. acquired a new position in shares of Bolt Biotherapeutics in the second quarter worth $33,000. PDT Partners LLC acquired a new position in shares of Bolt Biotherapeutics in the first quarter worth $33,000. Occudo Quantitative Strategies LP grew its stake in shares of Bolt Biotherapeutics by 19.5% in the second quarter. Occudo Quantitative Strategies LP now owns 30,816 shares of the company’s stock worth $63,000 after acquiring an additional 5,028 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new position in shares of Bolt Biotherapeutics in the second quarter worth $130,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

About Bolt Biotherapeutics

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Bolt Biotherapeutics, Inc, a clinical-stage biotechnology company, engages in the development of immuno-oncology agents to target tumor cells for elimination by the immune system. The company is developing BDC-1001, a human epidermal growth factor receptor 2 (HER2), which is in Phase I/II clinical trial for the treatment of patients with HER2-expressing solid tumors, including HER2-low tumors; BDC-2034, a carcinoembryonic antigen program for colorectal, non-small cell lung, pancreatic, and breast cancers; and BDC-3042, a Dectin-2 agonist antibody program developed to repolarize critical cells in the tumor microenvironment by targeting cell-surface receptors on macrophages.

Further Reading

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