Bolt Biotherapeutics target adjusted to $75 at Lake Street after reverse split

Lake Street analyst Chad Messer raised the firm’s price target on Bolt Biotherapeutics (BOLT) to $75 from $4 and keeps a Buy rating on the shares after Bolt ended Q2 with $48.5M in cash and reiterated its cash runway through mid-2026. The company completed a 20:1 reverse stock split to regain compliance with Nasdaq listing requirements in June, notes the analyst, who adjusted the firm’s target to account for the reverse split.