Pulse Biosciences (NASDAQ:PLSE) Stock Price Down 6.1% - Here's Why

Key Points

• Pulse Biosciences shares fell 6.1% to about $49.11 in Tuesday trading, on volume well below the stock’s average.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $50.20; recent targets include $58 from Needham and $70 from BTIG.
• The company reported weaker-than-expected quarterly results, including an adjusted loss of $0.36 per share versus estimates of $0.29 and revenue of $0.43 million versus expectations of $0.53 million.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) traded down 6.1% on Tuesday. The stock traded as low as $49.60 and last traded at $49.11. 137,757 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 386,567 shares. The stock had previously closed at $52.32.

Analysts Set New Price Targets

PLSE has been the subject of several recent research reports. BTIG Research assumed coverage on shares of Pulse Biosciences in a research report on Wednesday, September 23rd. They set a "buy" rating and a $70.00 price target for the company. Needham & Company LLC assumed coverage on shares of Pulse Biosciences in a research note on Monday, August 17th. They set a "buy" rating and a $58.00 target price for the company. Wall Street Zen upgraded shares of Pulse Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, September 6th. Oppenheimer restated an "outperform" rating on shares of Pulse Biosciences in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Pulse Biosciences in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.20.

Pulse Biosciences Stock Performance

The business's 50 day moving average price is $45.87 and its two-hundred day moving average price is $31.69. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -42.15 and a beta of 1.63.

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

Insider Activity at Pulse Biosciences

In other news, COO Liane Teplitsky acquired 1,001 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were bought at an average price of $49.95 per share, with a total value of $49,999.95. Following the purchase, the chief operating officer owned 4,095 shares of the company's stock, valued at approximately $204,545.25. This represents a 32.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders acquired 4,095 shares of company stock valued at $199,931. 74.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of Pulse Biosciences by 8.2% during the 1st quarter. Bank of America Corp DE now owns 866,061 shares of the company's stock valued at $18,698,000 after purchasing an additional 65,884 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Pulse Biosciences in the 2nd quarter worth approximately $687,000. Panoramic Capital LLC acquired a new stake in Pulse Biosciences during the second quarter valued at approximately $2,719,000. Legal & General Group Plc acquired a new stake in Pulse Biosciences during the second quarter valued at approximately $395,000. Finally, BlackRock Inc. acquired a new stake in Pulse Biosciences during the second quarter valued at approximately $40,672,000. 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 proprietary bioelectric therapies based on its Nano-Pulse Stimulation technology. The platform delivers ultrashort electrical pulses designed to affect targeted cells while limiting thermal damage to surrounding noncellular tissue.

The company's primary product is the CellFX System, which is designed to deliver Nano-Pulse Stimulation treatments for certain dermatological conditions. Pulse Biosciences is also developing additional applications for its technology in areas including cardiac procedures and other medical specialties.

Pulse Biosciences was founded in 2014 and is headquartered in Hayward, California.

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