Pulse Biosciences (NASDAQ:PLSE) Shares Up 15.7% – Here’s What Happened

Pulse Biosciences, Inc (NASDAQ:PLSE) traded up 15.7% during mid-day trading on Friday . The stock traded as high as $43.43 and last traded at $44.2560. 166,933 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 337,567 shares. The stock had previously closed at $38.24.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. 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 research note on Tuesday, July 28th. Finally, Canaccord Genuity Group initiated coverage on shares of Pulse Biosciences in a research report on Thursday, June 4th. They set a “buy” rating and a $32.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Pulse Biosciences Trading Up 10.7%

The company’s 50 day moving average price is $28.66 and its 200-day moving average price is $23.51. The company has a market capitalization of $2.93 billion, a PE ratio of -38.36 and a beta of 1.61.

Pulse Biosciences (NASDAQ:PLSE) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The business had revenue of $0.43 million during the quarter, compared to the consensus estimate of $0.53 million. As a group, analysts predict that Pulse Biosciences, Inc will post -1.29 earnings per share for the current year.

Insider Activity at Pulse Biosciences

In other Pulse Biosciences news, Director Robert W. Duggan bought 660,233 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $19.69 per share, with a total value of $12,999,987.77. Following the completion of the acquisition, the director directly owned 48,211,433 shares of the company’s stock, valued at approximately $949,283,115.77. The trade was a 1.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Paul A. Laviolette purchased 15,000 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $19.69 per share, with a total value of $295,350.00. Following the transaction, the chief executive officer directly owned 15,000 shares of the company’s stock, valued at approximately $295,350. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 74.00% of the company’s stock.

Hedge Funds Weigh In On Pulse Biosciences

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in Pulse Biosciences by 63.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company’s stock worth $26,000 after purchasing an additional 680 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Pulse Biosciences by 275.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock worth $44,000 after buying an additional 2,156 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Pulse Biosciences by 13.8% during the fourth quarter. Russell Investments Group Ltd. now owns 5,106 shares of the company’s stock valued at $70,000 after acquiring an additional 619 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Pulse Biosciences in the 2nd quarter valued at approximately $158,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Pulse Biosciences in the 2nd quarter valued at approximately $215,000. 76.95% of the stock is currently owned by institutional investors and hedge funds.

Pulse Biosciences Company Profile

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.