Cautious Hold Rating on Bolt Biotherapeutics Amid Promising Clinical Data and Financial Uncertainty

Leerink Partners analyst Daina Graybosch has maintained their neutral stance on BOLT stock, giving a Hold rating yesterday.

Daina Graybosch’s rating is based on a combination of factors related to Bolt Biotherapeutics’ current and future prospects. The company’s recent investor event highlighted the potential of their Dectin-2 agonist mAb program, BDC-3042, which has shown promising results in early clinical trials. However, while there is optimism about the potential for out-licensing this asset, there remains uncertainty regarding the economic terms Bolt might secure, which could impact their financial outlook.
Additionally, while the clinical data is encouraging, the company’s future cash runway is a concern. Bolt’s ability to extend their financial resources beyond mid-2026 is uncertain, and this financial uncertainty contributes to the Hold rating. The ongoing discussions with potential partners and the set deadline for non-binding term sheets add to the cautious stance, as the outcome of these negotiations will significantly influence the company’s trajectory.

In another report released yesterday, Stifel Nicolaus also reiterated a Hold rating on the stock with a $1.00 price target.

BOLT’s price has also changed dramatically for the past six months – from $0.617 to $0.345, which is a -44.08% drop .