Formula Growth Ltd. Invests $832,000 in Pulse Biosciences, Inc $PLSE

Key Points

• Formula Growth Ltd. purchased 30,000 shares of Pulse Biosciences during the second quarter, worth approximately $832,000. Institutional investors and hedge funds collectively own 76.95% of the company.
• Analyst sentiment is broadly positive, with four Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and an average price target of $45.25. Targets range from $43 to $58.
• Pulse Biosciences reported a quarterly loss of $0.36 per share and revenue of $430,000, missing analyst estimates for both measures. The stock opened at $48.56 and trades near its 52-week high of $50.90.

Formula Growth Ltd. bought a new position in shares of Pulse Biosciences, Inc (NASDAQ:PLSE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,000 shares of the company's stock, valued at approximately $832,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in Pulse Biosciences during the 1st quarter worth about $323,000. Creative Planning raised its stake in shares of Pulse Biosciences by 26.3% during the 2nd quarter. Creative Planning now owns 18,971 shares of the company's stock valued at $286,000 after buying an additional 3,951 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Pulse Biosciences by 57.7% in the 2nd quarter. Legal & General Group Plc now owns 22,415 shares of the company's stock valued at $338,000 after buying an additional 8,197 shares during the period. Norges Bank acquired a new position in shares of Pulse Biosciences in the 2nd quarter valued at about $302,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Pulse Biosciences in the second quarter worth about $158,000. 76.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on PLSE shares. Canaccord Genuity Group raised their target price on Pulse Biosciences from $32.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Wall Street Zen downgraded Pulse Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Needham & Company LLC assumed coverage on Pulse Biosciences in a research report on Monday, August 17th. They issued a "buy" rating and a $58.00 price objective on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Finally, Mizuho set a $45.00 target price on shares of Pulse Biosciences in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.25.

Pulse Biosciences Stock Performance

Shares of NASDAQ PLSE opened at $48.56 on Friday. The firm has a fifty day moving average of $34.94 and a 200 day moving average of $26.86. The firm has a market cap of $3.36 billion, a PE ratio of -41.15 and a beta of 1.61. Pulse Biosciences, Inc has a one year low of $12.56 and a one year high of $50.90.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted 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). Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 94.42%. The company had revenue of $0.43 million for the quarter, compared to analysts' expectations of $0.53 million. On average, equities analysts predict that Pulse Biosciences, Inc will post -1.29 EPS for the current fiscal year.

Pulse Biosciences 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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