Pulse Biosciences (NASDAQ:PLSE) Shares Down 7.9% - Time to Sell?

Key Points

• Pulse Biosciences shares fell 7.9% to about $53.57 in midday trading, on volume 84% below its average.
• Analyst views are mixed, but the consensus remains “Moderate Buy” with an average price target of $66.60; recent targets include $70–$74 from bullish firms.
• The company slightly missed quarterly EPS and revenue estimates: it reported a $0.32-per-share loss and $0.40 million in revenue, down 54.1% year over year.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) shares traded down 7.9% during mid-day trading on Tuesday. The stock traded as low as $54.74 and last traded at $53.5680. Approximately 64,250 shares traded hands during trading, a decline of 84% from the average daily volume of 389,867 shares. The stock had previously closed at $58.17.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of Pulse Biosciences from $58.00 to $74.00 and gave the company a "buy" rating in a research report on Friday. Weiss Ratings restated a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Thursday, October 15th. BTIG Research started coverage on shares of Pulse Biosciences in a report on Wednesday, September 23rd. They issued a "buy" rating and a $70.00 price target for the company. Wall Street Zen downgraded shares of Pulse Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Needham & Company LLC boosted their price objective on shares of Pulse Biosciences from $58.00 to $64.00 and gave the company a "buy" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Pulse Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $66.60.

Pulse Biosciences Stock Down 7.0%

The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -44.81 and a beta of 1.65. The stock's 50 day moving average price is $51.76 and its two-hundred day moving average price is $32.49.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its 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). 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 $0.40 million for the quarter, compared to analyst estimates of $0.52 million. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. The company's revenue for the quarter was down 54.1% on a year-over-year basis. On average, analysts predict that Pulse Biosciences, Inc will post -1.34 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Liane Teplitsky bought 1,036 shares of the stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average price of $48.23 per share, for a total transaction of $49,966.28. Following the completion of the purchase, the chief operating officer directly owned 1,036 shares of the company's stock, valued at $49,966.28. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 4,095 shares of company stock valued at $199,931. Insiders own 74.00% of the company's stock.

Institutional Investors Weigh In On Pulse Biosciences

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its position in Pulse Biosciences by 844.6% during the third quarter. Sterling Capital Management LLC now owns 614 shares of the company's stock worth $31,000 after acquiring an additional 549 shares during the period. Osterweis Capital Management Inc. purchased a new position in Pulse Biosciences during the second quarter valued at $28,000. Axxcess Wealth Management LLC acquired a new stake in shares of Pulse Biosciences in the third quarter valued at about $242,000. Bender Robert & Associates acquired a new stake in shares of Pulse Biosciences in the third quarter valued at about $379,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Pulse Biosciences in the second quarter valued at about $241,000. Hedge funds and other institutional investors own 76.95% of the company's stock.

About Pulse Biosciences

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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