Bank of New York Mellon Corp Invests $1.20 Million in Pulse Biosciences, Inc $PLSE

Key Points

• Bank of New York Mellon initiated a $1.20 million position in Pulse Biosciences during the second quarter, purchasing 43,114 shares. Institutional investors collectively own 76.95% of the company.
• Pulse Biosciences shares opened at $52.97, up 8.6%, and are trading near their 52-week high of $58.90. However, the company reported a quarterly loss of $0.36 per share and revenue of $0.43 million, both below analyst expectations.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $45.25. Company insiders have also been buying shares, including the COO’s recent purchase of approximately $50,000 worth of stock.

Bank of New York Mellon Corp bought a new position in Pulse Biosciences, Inc (NASDAQ:PLSE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,114 shares of the company's stock, valued at approximately $1,196,000. Bank of New York Mellon Corp owned 0.06% of Pulse Biosciences at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of Pulse Biosciences by 13.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,106 shares of the company's stock worth $70,000 after purchasing an additional 619 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Pulse Biosciences by 63.6% during the second 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. Alliancebernstein L.P. lifted its position in shares of Pulse Biosciences by 6.7% during the third quarter. Alliancebernstein L.P. now owns 20,620 shares of the company's stock worth $365,000 after purchasing an additional 1,300 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake 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 valued at $44,000 after purchasing an additional 2,156 shares during the period. Finally, Barclays PLC grew its holdings in Pulse Biosciences by 8.5% during the 4th quarter. Barclays PLC now owns 27,652 shares of the company's stock valued at $380,000 after purchasing an additional 2,164 shares in the last quarter. Institutional investors and hedge funds own 76.95% of the company's stock.

Pulse Biosciences Stock Up 8.6%

PLSE opened at $52.97 on Thursday. The company's 50-day moving average price is $39.37 and its 200 day moving average price is $28.61. Pulse Biosciences, Inc has a fifty-two week low of $12.56 and a fifty-two week high of $58.90. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -44.89 and a beta of 1.63.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its 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 company had revenue of $0.43 million for the quarter, compared to the consensus estimate of $0.53 million. Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 94.42%. Research analysts anticipate that Pulse Biosciences, Inc will post -1.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Liane Teplitsky bought 1,001 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $49.95 per share, for a total transaction of $49,999.95. Following the completion of the purchase, the chief operating officer owned 4,095 shares of the company's stock, valued at $204,545.25. This represents 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 over the last quarter. 74.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho set a $45.00 target price on Pulse Biosciences in a research report on Monday, August 10th. Wall Street Zen raised Pulse Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday. Canaccord Genuity Group increased their target price on Pulse Biosciences from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Needham & Company LLC initiated coverage on shares of Pulse Biosciences in a research report on Monday, August 17th. They set a "buy" rating and a $58.00 price target for the company. Finally, Oppenheimer restated an "outperform" rating on shares of Pulse Biosciences in a research note on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Pulse Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $45.25.

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.

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