Bolt Biotherapeutics (NASDAQ:BOLT) Major Shareholder Coastlands Capital Lp Acquires 50,000 Shares of Company Stock

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

Bolt Biotherapeutics Price Performance

Shares of NASDAQ BOLT opened at $6.30 on Wednesday. The stock has a market capitalization of $12.16 million, a price-to-earnings ratio of -0.38 and a beta of 0.85. Bolt Biotherapeutics, Inc. has a 12 month low of $3.10 and a 12 month high of $7.78. The firm’s 50 day simple moving average is $4.50 and its 200-day simple moving average is $4.53. 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 posted its earnings results 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 analysts’ expectations of $0.50 million. Analysts expect that Bolt Biotherapeutics, Inc. will post -11.10 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bolt Biotherapeutics in a report on Thursday, October 15th. 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 data from MarketBeat.com, Bolt Biotherapeutics currently has a consensus rating of “Hold” and an average price target of $14.50.

Hedge Funds Weigh In On Bolt Biotherapeutics

An institutional investor recently raised its stake in Bolt Biotherapeutics stock. Renaissance Technologies LLC raised its holdings in Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) by 40.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,225 shares of the company’s stock after purchasing an additional 22,200 shares during the period. Renaissance Technologies LLC owned about 4.02% of Bolt Biotherapeutics worth $312,000 at the end of the most recent quarter. 86.70% of the stock is owned by hedge funds and other institutional investors.

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.