Insider Selling: Bolt Biotherapeutics (NASDAQ:BOLT) CEO Sells $21,729.40 in Stock

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) CEO William Quinn sold 6,545 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $3.32, for a total transaction of $21,729.40. Following the sale, the chief executive officer owned 34,516 shares of the company’s stock, valued at approximately $114,593.12. The trade was a 15.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Bolt Biotherapeutics Trading Down 1.6%

NASDAQ:BOLT opened at $3.65 on Thursday. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $7.04 million, a PE ratio of -0.22 and a beta of 1.09. The firm’s 50 day moving average is $3.82 and its 200 day moving average is $4.28. Bolt Biotherapeutics, Inc. has a 12 month low of $3.10 and a 12 month high of $7.20.

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

Hedge Funds Weigh In On Bolt Biotherapeutics

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on BOLT shares. Rodman & Renshaw assumed coverage on Bolt Biotherapeutics in a report on Thursday, May 28th. They issued a “buy” rating and a $22.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bolt Biotherapeutics in a research report on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Bolt Biotherapeutics in a research note on Thursday, May 28th. 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 company’s stock. According to MarketBeat, Bolt Biotherapeutics has an average rating of “Hold” and a consensus target price of $14.50.

About Bolt Biotherapeutics

Bolt Biotherapeutics, Inc is a clinical-stage biotechnology company focused on developing immunotherapies for cancer. The company’s platform is designed to stimulate the body’s innate and adaptive immune systems to recognize and attack tumor cells.

Bolt’s technology includes Boltbody™ immune-stimulating antibody conjugates, or ISACs. These therapies are intended to combine the targeting capabilities of antibodies with immune-activating components that can recruit and enhance the activity of immune cells within the tumor microenvironment.

The company’s development programs have included BDC-1001, an investigational HER2-targeted ISAC for the treatment of HER2-expressing solid tumors, and BDC-3042, an investigational antibody intended to activate macrophages through the Dectin-2 pathway.