Pulse Biosciences (NASDAQ:PLSE) Stock Price Down 7.3% – Here’s What Happened

Pulse Biosciences, Inc (NASDAQ:PLSE)’s stock price fell 7.3% during trading on Tuesday . The company traded as low as $50.48 and last traded at $49.3790. Approximately 97,929 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 359,392 shares. The stock had previously closed at $53.24.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLSE. Wall Street Zen raised Pulse Biosciences from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Friday, July 17th. Oppenheimer reiterated an “outperform” rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Canaccord Genuity Group boosted their target price on shares of Pulse Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Needham & Company LLC began coverage on shares of Pulse Biosciences in a research report on Monday, August 17th. They issued a “buy” rating and a $58.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.25.

Pulse Biosciences Price Performance

The company has a fifty day moving average price of $38.45 and a 200 day moving average price of $28.25. The company has a market capitalization of $3.43 billion, a P/E ratio of -41.95 and a beta of 1.63.

Pulse Biosciences (NASDAQ:PLSE) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). The company had revenue of $0.43 million for the quarter, compared to analyst estimates of $0.53 million. Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 94.42%. On average, equities research analysts predict that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Insider Transactions at Pulse Biosciences

In other news, COO Liane Teplitsky purchased 1,001 shares of Pulse Biosciences stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $49.95 per share, with a total value of $49,999.95. Following the completion of the acquisition, the chief operating officer owned 4,095 shares in the company, valued at $204,545.25. The trade was a 32.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 4,095 shares of company stock valued at $199,931 in the last quarter. Company insiders own 74.00% of the company’s stock.

Institutional Trading of Pulse Biosciences

A number of large investors have recently modified their holdings of PLSE. BlackRock Inc. bought a new stake in Pulse Biosciences in the 2nd quarter valued at about $40,672,000. Bank of America Corp DE bought a new stake in shares of Pulse Biosciences during the second quarter valued at approximately $40,115,000. California State Teachers Retirement System raised its holdings in shares of Pulse Biosciences by 2,600.0% during the second quarter. California State Teachers Retirement System now owns 567,883 shares of the company’s stock valued at $15,747,000 after buying an additional 546,850 shares during the last quarter. State Street Corp boosted its position in shares of Pulse Biosciences by 6.0% during the fourth quarter. State Street Corp now owns 447,067 shares of the company’s stock worth $6,138,000 after buying an additional 25,187 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Pulse Biosciences by 330.7% during the fourth quarter. Brooklyn Investment Group now owns 130,340 shares of the company’s stock worth $1,844,000 after buying an additional 100,081 shares during the period. Institutional investors and hedge funds own 76.95% of the company’s stock.

About Pulse Biosciences

Pulse Biosciences, Inc is a clinical-stage bioelectric medicine company that develops and commercializes medical devices based on its proprietary Tissue NanoPoration (TNP) platform. The company’s core technology, NanoPulse Stimulation (NPS), delivers ultrashort, high-voltage electric pulses to targeted tissue, triggering cellular responses without the thermal damage associated with traditional energy-based devices. Pulse Biosciences focuses on applications in dermatology and aesthetic medicine, where controlled ablation of unwanted lesions is critical.

The company’s flagship product, the CellFX® System, is designed to treat a range of benign and malignant skin lesions, including seborrheic keratosis, non-melanoma skin cancers, and various epidermal and dermal lesions.