Bolt Biotherapeutics, Inc. (BOLT) Stock

Bolt Biotherapeutics, Inc. (BOLT) is a Healthcare stock trading at $3.73 (as of 2026-08-21), with a market capitalization of $7.19M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Bolt Biotherapeutics, Inc. is developing immuno-oncology therapeutics aimed at engaging the immune system against tumor cells. Its pipeline includes clinical-stage antibodies and related programs, such as a HER2-directed agent (BDC-1001) and additional targets including CEA (BDC-2034) and Dectin-2 (BDC-3042), for use in patients with specified solid tumors.

Understand Bolt Biotherapeutics, Inc.: how it makes money

Bolt Biotherapeutics develops immuno-oncology antibody programs to eliminate tumor cells through immune targeting, and in the latest quarter it is not reporting product revenue (revenue is shown as 0.0B), so its monetization would depend on successfully advancing clinical programs and ultimately commercializing therapies.

Because it is a clinical-stage biotechnology company with programs in Phase I/II, its profit model is driven primarily by trial advancement and eventual regulatory approval, rather than by current product sales.

Business quality (Weak): Limited provided data, no official segment breakdown, and no operational KPIs listed, so the investor view is necessarily focused on the clinical-program dependency and the latest-quarter lack of revenue.

Bull case

Multiple immuno-oncology programs targeting different tumor and immune pathways: The company is developing BDC-1001 (HER2, Phase I/II), BDC-2034 (carcinoembryonic antigen program), and BDC-3042 (Dectin-2 agonist antibody) across several solid tumor indications.
Phase I/II clinical progress in HER2-expressing solid tumors: BDC-1001 is in Phase I/II for HER2-expressing solid tumors, including HER2-low tumors, which keeps an early clinical validation pathway open.

Bear case

No reported product revenue, indicating pre-commercial status: In the latest quarter (2026-03-31), revenue is shown as 0.0B, so there is no current cushion from sales while clinical development is ongoing.
High operating losses are consistent with early-stage R&D: Operating margin is shown as -29234.6 for the latest quarter, reflecting substantial operating cost pressure typical of clinical-stage development.
Clinical and regulatory execution risk: Progress depends on whether these programs demonstrate sufficient safety and effectiveness in clinical trials, and whether regulators approve the therapies.

Valuation — source: SEC EDGAR (first-party)
Price	$3.73
Market Cap	$7.19M
Price / Book	0.57
Price / Sales	1.53
FCF Yield	-227.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$7.70M
Net Margin	-433.7%
Revenue Growth (YoY)	-99.7%
EPS Growth (YoY)	2.5%
FCF Growth (YoY)	-31.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	-12.73 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	Sofinnova Investments, Inc. ($556393.00)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	William Quinn
Employees	52
Country	US
IPO Date	2021-02-05

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.