Bolt Biotherapeutics (BOLT)
Market Price (11/6/2026): $6.5 | Market Cap: $15.3 MilSector: Health Care | Industry: Biotechnology
Bolt Biotherapeutics (BOLT)
Market Price (11/6/2026): $6.5Market Cap: $15.3 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. | Weak multi-year price returns2Y Excs Rtn is -84%, 3Y Excs Rtn is -151% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -28 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -606% Weak revenue growthRev Chg QQuarterly Revenue Change % is -100% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 54% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -669%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -669% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 131% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -272% Key risksBOLT key risks include [1] a strategic pivot to a high-risk, Show more. |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -84%, 3Y Excs Rtn is -151% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -28 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -606% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -100% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 54% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -669%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -669% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 131% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -272% |
| Key risksBOLT key risks include [1] a strategic pivot to a high-risk, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Bolt Biotherapeutics (BOLT) stock has gained about 60% since 7/31/2026 because of the following key factors:
1. Positive Fiscal Q2 2026 Earnings and Clinical Progress for BDC-4182.
On August 11, 2026, Bolt Biotherapeutics reported its fiscal Q2 2026 financial results, with an earnings per share (EPS) of -$4.57, which significantly exceeded the analyst consensus estimate of -$17.44 by 73.80%. The company also provided an update on its lead immune-stimulating antibody conjugate (ISAC) candidate, BDC-4182, noting that it was well-tolerated in its Phase 1/2 study for gastric and gastroesophageal cancer patients and demonstrated activity consistent with its immune-stimulating mechanism. Furthermore, Bolt stated that its cash, cash equivalents, and marketable securities, totaling $18.1 million as of June 30, 2026, were anticipated to fund operations into fiscal Q1 2027.
2. Strategic Acquisition of Prana Therapies and $120 Million Private Placement.
On October 23, 2026, Bolt Biotherapeutics announced the acquisition of Prana Therapies through a stock-for-stock transaction, expanding its pipeline into inflammatory indications with Prana's half-life-extended multispecific antibodies. Concurrent with the acquisition, the company secured a substantial $120 million private placement, bolstering its capital position and providing funding to advance the newly acquired programs. This significant corporate development contributed to a reported stock price increase of approximately 49.64% around the announcement.
Show more
Bolt Biotherapeutics (BOLT) stock has gained about 60% since 7/31/2026 because of the following key factors:
1. Positive Fiscal Q2 2026 Earnings and Clinical Progress for BDC-4182.
On August 11, 2026, Bolt Biotherapeutics reported its fiscal Q2 2026 financial results, with an earnings per share (EPS) of -$4.57, which significantly exceeded the analyst consensus estimate of -$17.44 by 73.80%. The company also provided an update on its lead immune-stimulating antibody conjugate (ISAC) candidate, BDC-4182, noting that it was well-tolerated in its Phase 1/2 study for gastric and gastroesophageal cancer patients and demonstrated activity consistent with its immune-stimulating mechanism. Furthermore, Bolt stated that its cash, cash equivalents, and marketable securities, totaling $18.1 million as of June 30, 2026, were anticipated to fund operations into fiscal Q1 2027.
2. Strategic Acquisition of Prana Therapies and $120 Million Private Placement.
On October 23, 2026, Bolt Biotherapeutics announced the acquisition of Prana Therapies through a stock-for-stock transaction, expanding its pipeline into inflammatory indications with Prana's half-life-extended multispecific antibodies. Concurrent with the acquisition, the company secured a substantial $120 million private placement, bolstering its capital position and providing funding to advance the newly acquired programs. This significant corporate development contributed to a reported stock price increase of approximately 49.64% around the announcement.
3. Anticipation of BDC-4182 Phase 1/2 Clinical Data Release.
Throughout the specified period, investor sentiment was buoyed by the upcoming release of initial clinical data from the BDC-4182 Phase 1/2 study. The company consistently stated that this data was expected to be released with its fiscal Q3 2026 results, which are estimated for November 11, 2026. This anticipated data release served as a key near-term catalyst, following earlier positive indications of a strong immune response observed at initial dose levels and a subsequent modification of the clinical protocol to allow for step-up dosing.
Show less
Stock Movement Drivers
Fundamental Drivers
The 59.9% change in BOLT stock from 7/31/2026 to 11/5/2026 was primarily driven by a 122.4% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.99 | 6.38 | 59.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 5 | -27.7% |
| P/S Multiple | 1.0 | 2.3 | 122.4% |
| Shares Outstanding (Mil) | 2 | 2 | -0.6% |
| Cumulative Contribution | 59.9% |
Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BOLT | 59.9% | |
| Market (SPY) | -1.9% | 3.2% |
| Sector (XLV) | 13.8% | -2.1% |
Fundamental Drivers
The 32.9% change in BOLT stock from 4/30/2026 to 11/5/2026 was primarily driven by a 113.2% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.80 | 6.38 | 32.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8 | 5 | -38.9% |
| P/S Multiple | 1.1 | 2.3 | 113.2% |
| Shares Outstanding (Mil) | 2 | 2 | 2.1% |
| Cumulative Contribution | 32.9% |
Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BOLT | 32.9% | |
| Market (SPY) | 2.3% | 4.2% |
| Sector (XLV) | 27.2% | 1.8% |
Fundamental Drivers
The 10.8% change in BOLT stock from 10/31/2025 to 11/5/2026 was primarily driven by a 13.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.76 | 6.38 | 10.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 5 | 12.8% |
| P/S Multiple | 2.7 | 2.3 | -13.4% |
| Shares Outstanding (Mil) | 2 | 2 | 13.4% |
| Cumulative Contribution | 10.8% |
Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BOLT | 10.8% | |
| Market (SPY) | 8.4% | 8.7% |
| Sector (XLV) | 29.8% | 0.9% |
Fundamental Drivers
The -67.4% change in BOLT stock from 10/31/2023 to 11/5/2026 was primarily driven by a -57.9% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.60 | 6.38 | -67.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7 | 5 | -30.7% |
| P/S Multiple | 5.5 | 2.3 | -57.9% |
| Shares Outstanding (Mil) | 2 | 2 | 11.7% |
| Cumulative Contribution | -67.4% |
Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BOLT | -67.4% | |
| Market (SPY) | 81.3% | 15.2% |
| Sector (XLV) | 55.5% | 12.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BOLT Return | -85% | -73% | -14% | -52% | -49% | 17% | -99% |
| Peers Return | -24% | -33% | 7% | -16% | 7% | 16% | -43% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| BOLT Win Rate | 27% | 33% | 50% | 25% | 25% | 45% | |
| Peers Win Rate | 40% | 42% | 44% | 58% | 54% | 61% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| BOLT Max Drawdown | - | -74% | -56% | -67% | -63% | -55% | |
| Peers Max Drawdown | -47% | -64% | -43% | -54% | -50% | -45% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GILD, ZYME, MGNX, STRO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)
How Low Can It Go
| Event | BOLT | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.9% | -9.5% |
| % Gain to Breakeven | 55.9% | 10.5% |
| Time to Breakeven | 99 days | 24 days |
In The Past
Bolt Biotherapeutics's stock fell -35.9% during the Summer-Fall 2023 Five Percent Yield Shock. Such a loss loss requires a 55.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | BOLT | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.9% | -9.5% |
| % Gain to Breakeven | 55.9% | 10.5% |
| Time to Breakeven | 99 days | 24 days |
In The Past
Bolt Biotherapeutics's stock fell -35.9% during the Summer-Fall 2023 Five Percent Yield Shock. Such a loss loss requires a 55.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Bolt Biotherapeutics (BOLT)
Bolt Biotherapeutics is a clinical-stage biotechnology company dedicated to developing innovative immuno-oncology agents. Its core focus is on creating therapies that harness the body's own immune system to identify and destroy cancer cells. The company aims to address significant unmet medical needs by providing novel treatment options for patients facing various solid tumors.
The company's pipeline features several key drug candidates. BDC-1001 is currently in Phase I/II clinical trials, targeting HER2-expressing solid tumors, including HER2-low subtypes. Another program, BDC-2034, is designed to treat cancers such as colorectal, non-small cell lung, pancreatic, and breast cancers by targeting carcinoembryonic antigen. Additionally, Bolt is developing BDC-3042, a Dectin-2 agonist antibody program intended to repolarize critical immune cells like macrophages within the tumor microenvironment to promote anti-tumor activity.
Bolt Biotherapeutics is also advancing a programmed cell death-ligand 1 (PD-L1) program, which seeks to provide therapeutic options for tumors that are unresponsive to conventional immune checkpoint blockade treatments. The primary market for Bolt's investigational therapies encompasses patients with a wide range of solid tumors, particularly those who have limited treatment options or whose cancers are resistant to existing immunotherapies.
```AI Analysis | Feedback
Here are 1-3 brief analogies for Bolt Biotherapeutics:
- A clinical-stage Genentech focused on activating the immune system to combat cancer.
- An early-stage Bristol Myers Squibb (BMS) dedicated to discovering novel immuno-oncology treatments.
- A research-focused Amgen, specializing in developing new immune-based therapies for oncology.
AI Analysis | Feedback
- BDC-1001: A human epidermal growth factor receptor 2 (HER2) targeting program in clinical trials for HER2-expressing solid tumors.
- BDC-2034: A carcinoembryonic antigen program targeting colorectal, non-small cell lung, pancreatic, and breast cancers.
- BDC-3042: A Dectin-2 agonist antibody program designed to repolarize critical cells in the tumor microenvironment.
- Programmed cell death-ligand 1 program: A program aimed at treating tumors that are nonresponsive to immune checkpoint blockade.
AI Analysis | Feedback
Bolt Biotherapeutics (BOLT) is a clinical-stage biotechnology company primarily engaged in the research and development of immuno-oncology agents. As described, the company's drug candidates, including BDC-1001, BDC-2034, and BDC-3042, are currently in various phases of clinical trials (e.g., Phase I/II) or earlier stages of development.
At its current stage, Bolt Biotherapeutics does not have commercialized products available for sale on the market, nor does it generate revenue from product sales to major customers. Therefore, the company does not have identifiable major customer companies or categories of individual customers in the traditional sense of product purchasers.
AI Analysis | Feedback
AI Analysis | Feedback
Willie Quinn, Chief Executive Officer
Willie Quinn was appointed Chief Executive Officer of Bolt Biotherapeutics in May 2024. He joined Bolt in 2020, bringing extensive experience in finance, operations, and business development in the biopharma industry. Prior to becoming CEO, he served as the company's Chief Financial Officer. Mr. Quinn previously served as the chief financial officer and senior vice president of corporate development at Sunesis Pharmaceuticals (acquired by Viracta Therapeutics), where he led multiple public financings and corporate collaborations. He also co-founded Bullet Biotechnology, serving as its chief executive officer, focused on developing cancer immunotherapies. Additionally, Mr. Quinn was an early employee at Jazz Pharmaceuticals, working there for over eight years, and was the chief financial officer and chief operating officer of Novation Biosciences, which was acquired by Agilent Technologies.
Sarah Nemec, SVP, Finance and Principal Accounting Officer
Sarah Nemec was appointed Senior Vice President, Finance and Principal Accounting Officer at Bolt Biotherapeutics in May 2024. She joined the company in 2020 and has over 20 years of experience as a senior finance leader in the life science industry.
Grant Yonehiro, Chief Operating Officer
Grant Yonehiro was promoted to Chief Operating Officer of Bolt Biotherapeutics in May 2024, having joined the company in 2016.
Michael N. Alonso, Ph.D., SVP, Research
Michael N. Alonso, Ph.D., is a scientific co-founder of Bolt Biotherapeutics and a co-inventor of its proprietary ISAC platform. He was promoted to Senior Vice President, Research, in May 2024.
Dawn Colburn, Pharm.D., Senior Vice President, Clinical Development
Dawn Colburn, Pharm.D., was promoted to Senior Vice President, Clinical Development, at Bolt Biotherapeutics in May 2024, overseeing all clinical activities.
AI Analysis | Feedback
1. Clinical Trial Failure and Regulatory Approval Risks
Bolt Biotherapeutics, as a clinical-stage biotechnology company, faces significant inherent uncertainties in the outcomes of its clinical trials and the subsequent ability to secure regulatory approvals. The company recently discontinued the development of its lead antibody-drug conjugate candidate, BDC-1001, after determining it did not meet its "high bar for advancement". This highlights the substantial risk that potential product candidates may not progress successfully through clinical development or receive necessary regulatory approvals within anticipated timelines, or at all. Clinical trials may also fail to confirm the safety, potency, or other desired characteristics of their products.2. Financial Health and Going Concern Risks
The company is currently categorized as a "Distressed" stock, with a GF Score of 58, indicating potential value traps. Bolt Biotherapeutics faces considerable challenges with profitability, evidenced by negative operating and net margins of -860.39% and -821.58%, respectively. Furthermore, an Altman Z-Score of -11.24 places the company in a distress zone, suggesting a potential risk of bankruptcy within the next two years, and its Piotroski F-Score of 1 indicates poor business operations. The company is rapidly depleting its resources, with a negative free cash flow exceeding $51 million in the last twelve months. To conserve capital and extend its cash runway into 2027, Bolt Biotherapeutics implemented a workforce reduction of approximately 50%.3. Dependence on Collaborations
The company's ability to maintain its existing collaborations and establish new ones is a key risk. For instance, forming a partnership for BDC-3042, a Dectin-2 agonist monoclonal antibody, has been identified as a crucial near-term catalyst for the company. A significant portion of Bolt's ISAC research is supported by collaborations with partners like Genmab and Toray. Should these collaborations not be maintained or if the company is unable to secure new strategic partnerships, its ability to fund and advance its pipeline candidates could be significantly impacted.AI Analysis | Feedback
AI Analysis | Feedback
The addressable markets for Bolt Biotherapeutics' main products are as follows:
- BDC-1001 (HER2-expressing solid tumors, including HER2-low tumors): The global HER2-targeted therapy market is estimated at approximately $20 billion in 2025 and is projected to reach about $35 billion by 2033, growing at a compound annual growth rate (CAGR) of 8%. Specifically for HER2-low cancers, the market in the 7 major markets (7MM: United States, EU4 (Germany, France, Italy, and Spain), United Kingdom, and Japan) is valued at approximately USD 3.53 billion in 2025 and is projected to reach USD 8.997 billion by 2034, with a CAGR of 11%.
-
BDC-2034 (carcinoembryonic antigen program for colorectal, non-small cell lung, pancreatic, and breast cancers):
- For colorectal cancer, the global therapeutics market is projected to grow from USD 13.37 billion in 2025 to USD 19.95 billion by 2034, at a CAGR of 4.55%.
- For non-small cell lung cancer (NSCLC), the global market is estimated to be valued at USD 28.61 billion in 2025 and is expected to reach USD 54.38 billion by 2032, exhibiting a CAGR of 9.6%.
- For pancreatic cancer, the global market is estimated at USD 3.25 billion in 2025 and is projected to surpass USD 10.25 billion by 2034, growing at a CAGR of 13.62%.
- For breast cancer, the global drugs market was estimated at USD 36.62 billion in 2024 and is projected to reach USD 69.72 billion by 2033, growing at a CAGR of 7.09%.
- The global carcinoembryonic antigen (CEA) market, which indicates the diagnostic and monitoring relevance of CEA, is projected to be between $3.10 billion and $4.62 billion from 2024 to 2030. North America held a significant share of approximately $725.89 million in 2025.
- BDC-3042 (Dectin-2 agonist antibody program developed to repolarize critical cells in the tumor microenvironment by targeting cell-surface receptors on macrophages): The global tumor microenvironment targeted oncology therapies market reached US$1.92 billion in 2025 and is expected to reach US$5.11 billion by 2033, growing at a CAGR of 13% from 2026 to 2033. North America dominated this market with a 42.7% revenue share in 2025.
- Programmed cell death-ligand 1 (PD-L1) program for tumors that are nonresponsive to immune checkpoint blockade: The broader global immune checkpoint inhibitors market is expected to grow from USD 50.29 billion in 2025 to USD 123.57 billion by 2031, at a CAGR of 16.18%. This market includes PD-L1 inhibitors and addresses the need for therapies in tumors with adaptive resistance or "cold" tumors, a segment that Bolt Biotherapeutics' program aims to target.
AI Analysis | Feedback
Bolt Biotherapeutics (NASDAQ: BOLT), a clinical-stage biotechnology company, anticipates its future revenue growth over the next 2-3 years will be primarily driven by the advancement of its pipeline candidates and strategic collaborations.
- Advancement of BDC-4182 through Clinical Trials: The company's next-generation Boltbody™ Immune-Stimulating Antibody Conjugate (ISAC), BDC-4182, targeting claudin 18.2, is currently in a Phase 1 dose-escalation study for gastric and gastroesophageal cancer. Initial clinical data from this study is expected in the third quarter of 2026. Positive clinical data and progression through further trial phases could attract additional investment, trigger milestone payments from potential partners, and move the candidate closer to eventual commercialization.
- Successful Partnering of BDC-3042: Bolt Biotherapeutics is actively seeking a partner to advance the development of BDC-3042, a Dectin-2 agonist antibody program. BDC-3042 has completed a Phase 1 dose-escalation trial, demonstrating a favorable safety profile, dose-dependent biological activity, and signs of monotherapy anti-tumor activity. Securing a partnership would likely generate upfront payments and potential milestone payments as the program progresses, contributing to future revenue.
- Expansion and Progress of Strategic Collaborations: Bolt Biotherapeutics has ongoing strategic collaborations with companies such as Genmab and Toray, which are built around its proprietary Boltbody™ ISAC platform technology. Continued progress in these existing collaborations, as well as the potential for forming new strategic partnerships for other ISAC programs, is expected to generate collaboration revenue.
AI Analysis | Feedback
Share Repurchases
No information regarding share repurchase programs or activities by Bolt Biotherapeutics was identified in the provided context for the last 3-5 years.
Share Issuance
- Bolt Biotherapeutics had its Initial Public Offering (IPO) in 2021.
- A one-for-twenty reverse stock split was implemented, which adjusted the number of outstanding shares.
Inbound Investments
- For the full year ended December 31, 2025, Bolt Biotherapeutics reported collaboration revenue of $7.7 million from arrangements with strategic partners like Toray, Genmab, and Innovent, which support its research and development activities.
- Tang Capital affiliates and Kevin Tang collectively reported beneficial ownership of 166,879 shares of common stock, representing 8.7% of the class on a post-reverse-split basis.
Outbound Investments
No information regarding strategic investments made by Bolt Biotherapeutics in other companies was identified in the provided context for the last 3-5 years.
Capital Expenditures
- In the last 12 months prior to March 2026, capital expenditures were -$72,000.
- Capital expenditures consumed $41,000 for the year ended December 31, 2025.
Peer Outperformance in Biotechnology
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| BOLT | Bolt Biotherapeutics | 4.9% | -0.4x | 31.0% | -68.1% | -97.3% | — |
| GILD | Gilead Sciences | 4.2% | -53.9x | 40.1% | 127.0% | 201.9% | +299pp |
| ABBV | AbbVie | 6.3% | 49.3x | 37.0% | 125.6% | 193.8% | +291pp |
| BIIB | Biogen | 1.1% | 103.7x | 59.0% | -1.9% | -12.5% | +85pp |
| ABCL | AbCellera Biologics | 7.8% | -20.7x | 137.3% | 148.7% | -26.2% | +71pp |
| RGEN | Repligen | 7.5% | -807.3x | 15.5% | 17.0% | -36.9% | +60pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 7.6% | 56.6% | 93.6% | CAH 498% · MCK 396% · COR 181% |
| Health Care Services | 20 | 33.8% | 28.8% | 6.1% | HIMS 189% · RDNT 125% · DGX 100% |
| Health Care Facilities | 25 | 13.9% | 27.4% | -1.4% | THC 280% · NHC 210% · EHC 186% |
| Managed Health Care | 8 | 47.9% | 1.6% | -2.2% | OSCR 95% · HQY 52% · ELV 10% |
| Health Care Equipment | 50 | 11.0% | 17.8% | -17.6% | UFPT 355% · GKOS 286% · PLSE 127% |
| Pharmaceuticals | 61 | -12.9% | 10.6% | -37.3% | LQDA 977% · XERS 571% · KNSA 500% |
| Health Care Supplies | 11 | 23.9% | 17.0% | -40.1% | LNTH 248% · HAE 66% · MMSI 29% |
| Life Sciences Tools & Services | 108 | -8.1% | -18.9% | -74.5% | AXGN 255% · NTRA 214% · MEDP 181% |
| Biotechnology ← | 364 | -25.8% | -36.1% | -82.0% | ELVN 1073% · TRVI 995% · DNTH 956% |
| Health Care Technology | 21 | -21.4% | -50.4% | -82.8% | VEEV -3% · DOCS -51% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Bolt Biotherapeutics Earnings Notes | 12/16/2025 | |
| Bolt Biotherapeutics Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.15 |
| Mkt Cap | 0.2 |
| Rev LTM | 46 |
| Op Inc LTM | -41 |
| FCF LTM | -66 |
| FCF 3Y Avg | -86 |
| CFO LTM | -64 |
| CFO 3Y Avg | -83 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.5% |
| Rev Chg 3Y Avg | 4.9% |
| Rev Chg Q | -84.6% |
| QoQ Delta Rev Chg LTM | -27.7% |
| Op Inc Chg LTM | 20.4% |
| Op Inc Chg 3Y Avg | 0.0% |
| Op Mgn LTM | -288.5% |
| Op Mgn 3Y Avg | -186.8% |
| QoQ Delta Op Mgn LTM | -142.4% |
| CFO/Rev LTM | -317.7% |
| CFO/Rev 3Y Avg | -166.2% |
| FCF/Rev LTM | -318.6% |
| FCF/Rev 3Y Avg | -170.6% |
Price Behavior
| Market Price | $6.38 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/05/2021 | |
| Distance from 52W High | -10.0% | |
| 50 Days | 200 Days | |
| DMA Price | $4.35 | $4.51 |
| DMA Trend | up | down |
| Distance from DMA | 46.8% | 41.6% |
| 3M | 1YR | |
| Volatility | 124.8% | 88.9% |
| Downside Capture | -130.16 | 76.78 |
| Upside Capture | 161.36 | 95.99 |
| Correlation (S&P 500) | 1.1% | 7.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.49 | -0.21 | -0.10 | 0.17 | 0.56 | 0.73 |
| Up Beta | 1.16 | -1.60 | -1.26 | -1.48 | -0.56 | 0.57 |
| Down Beta | 3.88 | 2.22 | 1.51 | 1.90 | 1.17 | 1.35 |
| Up Capture | 399% | 138% | 116% | 38% | 72% | 5% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 15 | 27 | 36 | 67 | 123 | 344 |
| Down Capture | -669% | -345% | -226% | -32% | 80% | 92% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 7 | 16 | 27 | 55 | 123 | 384 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BOLT | |
|---|---|---|---|---|
| BOLT | 26.7% | 88.9% | 0.62 | - |
| Sector ETF (XLV) | 29.2% | 16.9% | 1.33 | 1.1% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | 7.9% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | 8.7% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | 1.8% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 0.0% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | 23.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BOLT | |
|---|---|---|---|---|
| BOLT | -52.2% | 77.8% | -0.59 | - |
| Sector ETF (XLV) | 8.6% | 15.4% | 0.36 | 14.4% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 18.2% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 2.4% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 0.2% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 12.7% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 13.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BOLT | |
|---|---|---|---|---|
| BOLT | -36.9% | 77.9% | -0.67 | - |
| Sector ETF (XLV) | 12.2% | 16.8% | 0.60 | 14.1% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | 17.9% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | 4.1% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 1.5% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 12.1% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 13.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | -13.3% | -20.2% | -6.3% |
| 5/12/2026 | 1.0% | -1.3% | -0.2% |
| 3/12/2026 | -3.5% | 12.1% | 15.1% |
| 11/12/2025 | 0.2% | -0.2% | 14.9% |
| 8/14/2025 | -5.3% | -10.1% | -2.2% |
| 5/12/2025 | -6.7% | -11.4% | -11.8% |
| 3/24/2025 | -4.0% | -8.6% | -15.0% |
| 11/12/2024 | -3.9% | -12.6% | -17.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 6 |
| # Negative | 11 | 12 | 13 |
| Median Positive | 2.8% | 6.4% | 15.0% |
| Median Negative | -4.0% | -9.4% | -11.7% |
| Max Positive | 12.5% | 20.7% | 32.0% |
| Max Negative | -13.3% | -20.2% | -60.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | -13.3% | -20.2% | -6.3% |
| 5/12/2026 | 1.0% | -1.3% | -0.2% |
| 3/12/2026 | -3.5% | 12.1% | 15.1% |
| 11/12/2025 | 0.2% | -0.2% | 14.9% |
| 8/14/2025 | -5.3% | -10.1% | -2.2% |
| 5/12/2025 | -6.7% | -11.4% | -11.8% |
| 3/24/2025 | -4.0% | -8.6% | -15.0% |
| 11/12/2024 | -3.9% | -12.6% | -17.6% |
| 8/13/2024 | -1.4% | -1.5% | -11.7% |
| 3/21/2024 | 3.4% | 20.7% | -4.3% |
| 11/9/2023 | -1.0% | -3.1% | -7.1% |
| 8/7/2023 | 0.8% | -3.9% | -14.2% |
| 5/11/2023 | 12.5% | 18.8% | 1.9% |
| 11/10/2022 | 3.1% | 0.0% | 1.6% |
| 8/10/2022 | -6.3% | -19.4% | -29.8% |
| 5/12/2022 | -2.6% | 6.4% | 25.6% |
| 11/9/2021 | -4.8% | -11.0% | -60.2% |
| 8/12/2021 | 4.7% | 4.0% | 32.0% |
| 5/13/2021 | 2.5% | 2.3% | -11.0% |
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 6 |
| # Negative | 11 | 12 | 13 |
| Median Positive | 2.8% | 6.4% | 15.0% |
| Median Negative | -4.0% | -9.4% | -11.7% |
| Max Positive | 12.5% | 20.7% | 32.0% |
| Max Negative | -13.3% | -20.2% | -60.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/21/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/29/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/21/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/29/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/30/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/13/2021 | 10-Q |
| 12/31/2020 | 03/31/2021 | 10-K |
| 09/30/2020 | 02/05/2021 | 424B4 |
Recent Forward Guidance
Updated 11/2/2026Latest: Q2 2026 Earnings Reported 8/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | Reported | Affirmed | Guidance: 2027 for 2027 | |||||
Prior: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | Reported | 2027 | ||||||
Q4 2025 Earnings Reported 3/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | Reported | |||||||
Q3 2025 Earnings Reported 11/12/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | Reported | |||||||
Insider Activity
Updated 10/27/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Yonehiro, Grant | Chief Operating Officer | Direct | Sell | 9212026 | 3.24 | 6,850 | 22,169 | 55,889 | Form |
| 2 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Sell | 9212026 | 3.24 | 4,077 | 13,195 | 55,284 | Form |
| 3 | Quinn, William P | President, CEO and CFO | Direct | Sell | 9212026 | 3.24 | 9,132 | 29,555 | 82,153 | Form |
| 4 | Yonehiro, Grant | Chief Operating Officer | Direct | Sell | 9212026 | 3.32 | 4,909 | 16,290 | 80,034 | Form |
| 5 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Sell | 9212026 | 3.32 | 2,922 | 9,696 | 70,212 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Yonehiro, Grant | Chief Operating Officer | Direct | Sell | 9212026 | 3.24 | 6,850 | 22,169 | 55,889 | Form |
| 2 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Sell | 9212026 | 3.24 | 4,077 | 13,195 | 55,284 | Form |
| 3 | Quinn, William P | President, CEO and CFO | Direct | Sell | 9212026 | 3.24 | 9,132 | 29,555 | 82,153 | Form |
| 4 | Yonehiro, Grant | Chief Operating Officer | Direct | Sell | 9212026 | 3.32 | 4,909 | 16,290 | 80,034 | Form |
| 5 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Sell | 9212026 | 3.32 | 2,922 | 9,696 | 70,212 | Form |
| 6 | Quinn, William P | President, CEO and CFO | Direct | Sell | 9212026 | 3.32 | 6,545 | 21,718 | 114,534 | Form |
| 7 | Yonehiro, Grant | Chief Operating Officer | Direct | Sell | 9212026 | 3.77 | 1,417 | 5,348 | 109,552 | Form |
| 8 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Sell | 9212026 | 3.77 | 843 | 3,181 | 90,882 | Form |
| 9 | Quinn, William P | President, CEO and CFO | Direct | Sell | 9212026 | 3.77 | 1,889 | 7,129 | 154,964 | Form |
| 10 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Buy | 9212026 | 3.88 | 509 | 1,973 | 7,457 | Form |
| 11 | Quinn, William P | President, CEO and CFO | Direct | Buy | 9212026 | 3.88 | 637 | 2,469 | 11,434 | Form |
| 12 | Quinn, William P | President, CEO and CFO | Direct | Buy | 2042026 | 4.61 | 125 | 576 | 10,656 | Form |
| 13 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Buy | 2042026 | 4.61 | 125 | 576 | 6,519 | Form |
| 14 | Nemec, Sarah | Senior VP, Finance and PAO | Direct | Buy | 10242025 | 5.49 | 125 | 686 | 5,179 | Form |
| 15 | Quinn, William P | President, CEO and CFO | Direct | Buy | 10242025 | 5.49 | 125 | 686 | 12,016 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.