Bolt Biotherapeutics price target lowered to $1.25 from $1.50 at Stifel

Stifel lowered the firm’s price target on Bolt Biotherapeutics (BOLT) to $1.25 from $1.50 and keeps a Hold rating on the shares. Completion of patient enrollment into the Phase 1 single-agent BDC-3042 dose-escalation trial sets the stage for a medical conference presentation in Q2, but the firm continues to believe the competitive intensity of the CLDN18.2 drug development landscape establishes a high safety/efficacy hurdle, the analyst tells investors.