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

Key Points

• Pulse Biosciences shares fell at the open, dropping from a prior close of $49.83 to $47.89 before last trading around $48.61.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $50.20 price target; recent targets range from $43 to $70, although Weiss Ratings maintains a sell rating.
• The company reported a quarterly loss of $0.36 per share versus the expected $0.29 loss and revenue below estimates. Insiders own 74% of the stock, while institutional investors and hedge funds hold 76.95%.

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $49.83, but opened at $47.89. Pulse Biosciences shares last traded at $48.6050, with a volume of 19,462 shares.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLSE shares. Freedom Capital upgraded shares of Pulse Biosciences to a "strong-buy" rating in a research report on Wednesday, September 9th. Canaccord Genuity Group increased their price target on shares of Pulse Biosciences from $32.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. BTIG Research started coverage on shares of Pulse Biosciences in a research note on Wednesday, September 23rd. They set a "buy" rating and a $70.00 price target for the company. Needham & Company LLC started coverage on Pulse Biosciences in a report on Monday, August 17th. They set a "buy" rating and a $58.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Pulse Biosciences in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.20.

Pulse Biosciences Price Performance

The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -41.42 and a beta of 1.57. The firm has a 50 day simple moving average of $47.35 and a 200-day simple moving average of $32.49.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last issued 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). Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 94.42%. The firm had revenue of $0.43 million during the quarter, compared to analyst estimates of $0.53 million. On average, sell-side analysts forecast that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Liane Teplitsky acquired 1,036 shares of the firm's stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $48.23 per share, with a total value of $49,966.28. Following the completion of the purchase, the chief operating officer 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 4,095 shares of company stock valued at $199,931 in the last quarter. 74.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Formula Growth Ltd. bought a new stake in Pulse Biosciences during the 2nd quarter worth approximately $832,000. Panoramic Capital LLC bought a new stake in shares of Pulse Biosciences during the second quarter worth $2,719,000. Bank of America Corp DE acquired a new stake in shares of Pulse Biosciences in the second quarter valued at $40,115,000. Jupiter Topco LLC bought a new position in shares of Pulse Biosciences in the second quarter valued at about $241,000. Finally, Osterweis Capital Management Inc. acquired a new position in Pulse Biosciences during the 2nd quarter worth about $28,000. 76.95% of the stock is owned by institutional investors and hedge funds.

About Pulse Biosciences

Pulse Biosciences, Inc is a medical technology company developing bioelectric therapies based on its proprietary Nano-Pulse Stimulation (NPS) technology. The platform delivers short, nonthermal electrical pulses that temporarily affect cell membranes and are designed to selectively target unwanted cells while preserving surrounding tissue.

The company's lead commercial product is the CellFX System, a dermatology platform designed to treat certain benign skin lesions and other dermatologic conditions using NPS technology.

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