Pulse Biosciences (NASDAQ:PLSE) Share Price Breaks Below 50-Day Moving Average - What's Next?

Key Points

• Pulse Biosciences shares fell below their 50-day moving average, trading as low as $50.20 and last at $50.44, versus a 50-day average of $51.86.
• Analyst views are mixed, but the consensus rating is Moderate Buy with a $66.60 price target; recent targets range from $60 to $74, alongside sell downgrades.
• The company missed quarterly estimates, reporting an adjusted loss of $0.32 per share and $0.40 million in revenue; revenue fell 54.1% year over year.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report)'s share price passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $51.86 and traded as low as $50.20. Pulse Biosciences shares last traded at $50.44, with a volume of 590,839 shares traded.

Wall Street Analysts Forecast Growth

PLSE has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their target price on Pulse Biosciences from $58.00 to $74.00 and gave the company a "buy" rating in a report on Friday, November 6th. Wall Street Zen downgraded Pulse Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, November 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Pulse Biosciences in a research report on Thursday, October 15th. Mizuho set a $65.00 price objective on Pulse Biosciences in a research note on Friday, November 6th. Finally, Oppenheimer lifted their price objective on Pulse Biosciences from $35.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, October 13th. 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 company. Based on data from MarketBeat, Pulse Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.60.

Pulse Biosciences Price Performance

The firm has a 50 day moving average of $51.86 and a two-hundred day moving average of $33.28. The stock has a market cap of $3.71 billion, a PE ratio of -41.69 and a beta of 1.65.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.01). The business had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.52 million. Pulse Biosciences had a negative net margin of 5,603.88% and a negative return on equity of 77.88%. The business's revenue for the quarter was down 54.1% compared to the same quarter last year. During the same period last year, the company earned ($0.29) earnings per share. As a group, equities analysts anticipate that Pulse Biosciences, Inc will post -1.34 EPS for the current fiscal year.

Insider Buying and Selling at Pulse Biosciences

In related news, COO Liane Teplitsky acquired 1,001 shares of Pulse Biosciences stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $49.95 per share, for a total transaction of $49,999.95. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 4,095 shares of company stock worth $199,931. 74.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Pulse Biosciences by 8.2% during the first quarter. Bank of America Corp DE now owns 866,061 shares of the company's stock worth $18,698,000 after purchasing an additional 65,884 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Pulse Biosciences in the 2nd quarter valued at about $687,000. Panoramic Capital LLC acquired a new stake in shares of Pulse Biosciences in the 2nd quarter valued at about $2,719,000. BlackRock Inc. acquired a new stake in shares of Pulse Biosciences in the 2nd quarter valued at about $40,672,000. Finally, Formula Growth Ltd. purchased a new position in Pulse Biosciences during the 2nd quarter worth approximately $832,000. 76.95% of the stock is owned by hedge funds and other institutional investors.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc. develops medical devices using its proprietary nanosecond pulsed field ablation (nsPFA) technology. The technology delivers very short electrical pulses intended to disrupt targeted cells without relying on heat, with the goal of limiting effects on surrounding tissue. The company is developing nsPFA applications for cardiac electrophysiology and surgical oncology, including devices for tissue ablation. Its earlier CellFX System brought the technology to dermatology for treating certain benign skin lesions, marking an initial commercial application of the platform.

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