Buy Rating for Bolt Biotherapeutics: Innovative Approach and Strong Financials Drive Positive OutlookValuation and Risks. We assess Bolt using a discounted cash flow (DCF)-based valuation methodology, with a 20% probability of launch for 18.2+ gastric and gastroesophageal cancer. In addition, we employ a 10% discount rate, a 29.84% effective tax rate, and a 1.0% terminal growth rate.