Bolt Biotherapeutics (NASDAQ:BOLT) Stock: Insider Coastlands Capital Lp Purchases 50,000 Shares

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) major shareholder Coastlands Capital Lp acquired 50,000 shares of the business’s stock in a transaction on Monday, November 9th. The stock was acquired at an average cost of $6.38 per share, for a total transaction of $319,000.00. Following the transaction, the insider owned 462,416 shares of the company’s stock, valued at approximately $2,950,214.08. The trade was a 12.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Bolt Biotherapeutics Price Performance

BOLT opened at $6.26 on Thursday. Bolt Biotherapeutics, Inc. has a fifty-two week low of $3.10 and a fifty-two week high of $7.78. The firm has a 50-day moving average of $4.54 and a 200 day moving average of $4.52. The firm has a market cap of $12.08 million, a P/E ratio of -0.38 and a beta of 0.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.61 and a current ratio of 2.61.

Bolt Biotherapeutics (NASDAQ:BOLT) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($4.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.39) by ($1.18). Bolt Biotherapeutics had a negative return on equity of 126.23% and a negative net margin of 611.47%. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, research analysts expect that Bolt Biotherapeutics, Inc. will post -11.10 EPS for the current year.

Hedge Funds Weigh In On Bolt Biotherapeutics

An institutional investor recently raised its position in Bolt Biotherapeutics stock. Renaissance Technologies LLC increased its holdings in Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) by 40.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,225 shares of the company’s stock after purchasing an additional 22,200 shares during the period. Renaissance Technologies LLC owned approximately 4.02% of Bolt Biotherapeutics worth $312,000 as of its most recent SEC filing. 86.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bolt Biotherapeutics in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently 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 treatments that activate the immune system to fight cancer. The company’s approach is designed to combine the targeting capabilities of antibodies with immune-stimulating components that recruit and activate innate immune cells within the tumor microenvironment. Bolt’s proprietary platform centers on Immune-Stimulating Antibody Conjugates, or ISACs. These investigational therapies are intended to bind to specific markers on tumor cells and deliver immune-stimulating payloads, potentially promoting tumor-cell destruction and generating a broader antitumor immune response.