Pulse Biosciences (NASDAQ:PLSE) Shares Down 6.1% – Here’s Why

Pulse Biosciences, Inc (NASDAQ:PLSE) shares were down 6.1% on Tuesday. The stock traded as low as $49.60 and last traded at $49.11. 137,757 shares changed hands during trading, a decline of 64% from the average session volume of 386,567 shares. The stock had previously closed at $52.32.

Analyst Upgrades and Downgrades

PLSE has been the topic of a number of recent analyst reports. Freedom Capital raised Pulse Biosciences to a “strong-buy” rating in a research report on Wednesday, September 9th. Needham & Company LLC started coverage on Pulse Biosciences in a report on Monday, August 17th. They set a “buy” rating and a $58.00 price objective on the stock. Mizuho set a $45.00 target price on shares of Pulse Biosciences in a research report on Monday, August 10th. Canaccord Genuity Group boosted their price target on shares of Pulse Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Pulse Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pulse Biosciences has an average rating of “Moderate Buy” and a consensus target price of $50.20.

Pulse Biosciences Stock Performance

The business’s 50 day simple moving average is $45.87 and its 200-day simple moving average is $31.69. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -42.15 and a beta of 1.63.

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

Insiders Place Their Bets

In other news, COO Liane Teplitsky purchased 1,036 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $48.23 per share, with a total value of $49,966.28. Following the purchase, the chief operating officer directly owned 1,036 shares of the company’s stock, valued at approximately $49,966.28. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders bought 4,095 shares of company stock valued at $199,931. Corporate insiders own 74.00% of the company’s stock.

Hedge Funds Weigh In On Pulse Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Pulse Biosciences during the 2nd quarter worth $40,672,000. Bank of America Corp DE bought a new position in Pulse Biosciences in the 2nd quarter worth $40,115,000. Panoramic Capital LLC bought a new position in Pulse Biosciences in the 2nd quarter worth $2,719,000. Bank of New York Mellon Corp acquired a new position in Pulse Biosciences during the 2nd quarter worth $1,196,000. Finally, Formula Growth Ltd. acquired a new position in Pulse Biosciences during the 2nd quarter worth $832,000. Institutional investors own 76.95% of the company’s stock.

About Pulse Biosciences

Pulse Biosciences, Inc is a medical technology company developing proprietary bioelectric therapies based on its Nano-Pulse Stimulation technology. The platform delivers ultrashort electrical pulses designed to affect targeted cells while limiting thermal damage to surrounding noncellular tissue.

The company’s primary product is the CellFX System, which is designed to deliver Nano-Pulse Stimulation treatments for certain dermatological conditions. Pulse Biosciences is also developing additional applications for its technology in areas including cardiac procedures and other medical specialties.

Pulse Biosciences was founded in 2014 and is headquartered in Hayward, California.