Shares of Pulse Biosciences, Inc (NASDAQ:PLSE – Get Free Report) traded down 7.9% during mid-day trading on Tuesday. The stock traded as low as $54.74 and last traded at $53.5680. 64,250 shares were traded during mid-day trading, a decline of 84% from the average session volume of 389,867 shares. The stock had previously closed at $58.17.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Freedom Capital upgraded Pulse Biosciences to a “strong-buy” rating in a research note on Wednesday, September 9th. Mizuho set a $65.00 price target on Pulse Biosciences in a research note on Friday. BTIG Research began coverage on Pulse Biosciences in a research report on Wednesday, September 23rd. They set a “buy” rating and a $70.00 price target for the company. Needham & Company LLC increased their price objective on Pulse Biosciences from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Friday. Finally, Oppenheimer raised their price objective on Pulse Biosciences from $35.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.60.
View Our Latest Analysis on PLSE
Pulse Biosciences Stock Down 7.0%
The firm has a market capitalization of $3.83 billion, a PE ratio of -44.81 and a beta of 1.65. The business has a 50-day moving average price of $51.76 and a 200-day moving average price of $32.49.
Pulse Biosciences (NASDAQ:PLSE – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.52 million. Pulse Biosciences had a negative return on equity of 94.42% and a negative net margin of 6,755.78%. The business’s quarterly revenue was down 54.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.29) EPS. On average, equities research analysts anticipate that Pulse Biosciences, Inc will post -1.34 earnings per share for the current year.
Insider Activity
In related news, COO Liane Teplitsky purchased 1,001 shares of Pulse Biosciences stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average price of $49.95 per share, for a total transaction of $49,999.95. Following the acquisition, the chief operating officer directly owned 4,095 shares in the company, valued at approximately $204,545.25. The trade was a 32.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders acquired 4,095 shares of company stock valued at $199,931. 74.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Pulse Biosciences
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in Pulse Biosciences by 844.6% during the third quarter. Sterling Capital Management LLC now owns 614 shares of the company’s stock worth $31,000 after purchasing an additional 549 shares during the period. Bender Robert & Associates purchased a new stake in shares of Pulse Biosciences in the 3rd quarter valued at approximately $379,000. Axxcess Wealth Management LLC purchased a new stake in shares of Pulse Biosciences in the 3rd quarter valued at approximately $242,000. Formula Growth Ltd. acquired a new stake in shares of Pulse Biosciences during the 2nd quarter worth approximately $832,000. Finally, Panoramic Capital LLC acquired a new stake in shares of Pulse Biosciences during the 2nd quarter worth approximately $2,719,000. 76.95% of the stock is currently owned by institutional investors and hedge funds.
About Pulse Biosciences
Pulse Biosciences, Inc. develops medical devices using its proprietary nanosecond pulsed field ablation (nsPFA) technology. The technology delivers very short electrical pulses intended to disrupt targeted cells without relying on heat, with the goal of limiting effects on surrounding tissue. The company is developing nsPFA applications for cardiac electrophysiology and surgical oncology, including devices for tissue ablation. Its earlier CellFX System brought the technology to dermatology for treating certain benign skin lesions, marking an initial commercial application of the platform.
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