Bolt Biotherapeutics price target lowered to $6 from $7 at Stifel

Stifel analyst Stephen Willey lowered the firm’s price target on Bolt Biotherapeutics to $6 from $7 and keeps a Buy rating on the shares. The company’s recently announced initiation of the P2 dose-expansion study evaluating BDC-1001 and the P2 trial evaluating BDC-1001 with pertuzumab should prove an efficient mechanism for further interrogating, the analyst tells investors. Further, the FDA’s recent acceptance of the IND submission for BDC-3042 represents an incremental positive and another opportunity to build upon its FY24 catalyst calendar, Stifel says.