Pulse Biosciences (NASDAQ:PLSE) Stock Price Down 6.1% – Time to Sell?

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on PLSE shares. Mizuho set a $45.00 price objective on Pulse Biosciences in a report on Monday, August 10th. Oppenheimer reissued an “outperform” rating on shares of Pulse Biosciences in a research note on Tuesday, July 28th. BTIG Research initiated coverage on Pulse Biosciences in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $70.00 target price for the company. Wall Street Zen upgraded Pulse Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. Finally, Canaccord Genuity Group upped 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. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.20.

Pulse Biosciences Stock Down 1.9%

The firm’s fifty day moving average price is $46.62 and its two-hundred day moving average price is $32.11. The stock has a market capitalization of $3.53 billion, a PE ratio of -42.31 and a beta of 1.63.

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

Insider Transactions at Pulse Biosciences

In other Pulse Biosciences news, COO Liane Teplitsky purchased 1,001 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average cost of $49.95 per share, with a total value of $49,999.95. Following the acquisition, the chief operating officer owned 4,095 shares in the company, valued at approximately $204,545.25. This trade represents a 32.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 4,095 shares of company stock worth $199,931. 74.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pulse Biosciences

Several institutional investors have recently bought and sold shares of PLSE. Bank of America Corp DE boosted its holdings in shares of Pulse Biosciences by 8.2% during the 1st quarter. Bank of America Corp DE now owns 866,061 shares of the company’s stock valued at $18,698,000 after purchasing an additional 65,884 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Pulse Biosciences in the second quarter worth about $687,000. Panoramic Capital LLC purchased a new stake in shares of Pulse Biosciences in the second quarter worth about $2,719,000. Legal & General Group Plc purchased a new stake in shares of Pulse Biosciences in the second quarter worth about $395,000. Finally, BlackRock Inc. purchased a new stake in shares of Pulse Biosciences in the second quarter worth about $40,672,000. 76.95% of the stock is owned by hedge funds and other institutional investors.

About Pulse Biosciences

Pulse Biosciences, Inc is a medical technology company developing bioelectric therapies based on its proprietary Nano-Pulse Stimulation (NPS) technology. The platform delivers short, nonthermal electrical pulses that temporarily affect cell membranes and are designed to selectively target unwanted cells while preserving surrounding tissue.

The company’s lead commercial product is the CellFX System, a dermatology platform designed to treat certain benign skin lesions and other dermatologic conditions using NPS technology.