Cautious Hold Rating for Bolt Biotherapeutics Amidst Promising Developments and Uncertainties

JonesTrading analyst Soumit Roy has maintained their neutral stance on BOLT stock, giving a Hold rating on March 26.

Soumit Roy has given his Hold rating due to a combination of factors that reflect both the potential and uncertainties surrounding Bolt Biotherapeutics. The company is set to present Phase 1 data for its BDC-3042 treatment, targeting dectin-2, which has shown a good tolerance profile but lacks clarity on its clinical efficacy across various cancer types. This uncertainty in clinical activity and the need for more data on target tumor types and dose levels contribute to the cautious stance.
Additionally, while Bolt Biotherapeutics is advancing its BDC-4182 program targeting Claudin 18.2, with plans for a Phase 1 trial in gastric cancer, these developments are still in early stages. The company’s financial position, with a cash runway expected through mid-2026, provides some stability, but the high cash burn rate and the need for further clinical validation of their pipeline compounds underscore the Hold rating. The potential for partnerships and future data releases are key factors that could influence future ratings.

In another report released on March 26, Leerink Partners also maintained a Hold rating on the stock with a $1.00 price target.