BlackRock Inc. Takes $40.67 Million Position in Pulse Biosciences, Inc $PLSE

Key Points

• BlackRock acquired a new 1.47 million-share stake in Pulse Biosciences valued at approximately $40.7 million, representing 2.12% of the company. Institutional investors collectively own 76.95% of PLSE.
• Analyst sentiment is broadly positive, with four Buy ratings and one Sell rating; the stock has an average “Moderate Buy” rating and a consensus price target of $45.25.
• PLSE shares opened at $52.09 after rising 3.5%, near their 12-month high of $54.39. However, the company missed quarterly estimates, reporting a $0.36 per-share loss and $0.43 million in revenue.

BlackRock Inc. purchased a new position in shares of Pulse Biosciences, Inc (NASDAQ:PLSE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,466,702 shares of the company's stock, valued at approximately $40,672,000. BlackRock Inc. owned 2.12% of Pulse Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Pulse Biosciences by 8.2% in the first quarter. Bank of America Corp DE now owns 866,061 shares of the company's stock valued at $18,698,000 after acquiring an additional 65,884 shares during the period. Cetera Investment Advisers purchased a new position in shares of Pulse Biosciences during the first quarter worth approximately $387,000. GSA Capital Partners LLP acquired a new position in shares of Pulse Biosciences in the 2nd quarter valued at $290,000. Sanctuary Advisors LLC acquired a new position in shares of Pulse Biosciences in the 4th quarter valued at $244,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Pulse Biosciences in the 2nd quarter valued at $215,000. Hedge funds and other institutional investors own 76.95% of the company's stock.

Insider Activity

In other Pulse Biosciences news, COO Liane Rae Teplitsky purchased 1,034 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average price of $48.35 per share, for a total transaction of $49,993.90. Following the completion of the purchase, the chief operating officer owned 2,070 shares in the company, valued at $100,084.50. The trade was a 99.81% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 74.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLSE. Oppenheimer reiterated an "outperform" rating on shares of Pulse Biosciences in a research note on Tuesday, July 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Canaccord Genuity Group lifted their price objective 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. Mizuho set a $45.00 target price on shares of Pulse Biosciences 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 note on Saturday. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.25.

Pulse Biosciences Trading Up 3.5%

Shares of PLSE stock opened at $52.09 on Wednesday. The firm has a fifty day simple moving average of $36.39 and a 200-day simple moving average of $27.40. The company has a market capitalization of $3.61 billion, a PE ratio of -44.14 and a beta of 1.62. Pulse Biosciences, Inc has a twelve month low of $12.56 and a twelve month high of $54.39.

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

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.

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