Pulse Biosciences (NASDAQ:PLSE) Shares Gap Up Following Insider Buying Activity

Key Points

• Pulse Biosciences (PLSE) shares experienced a significant price increase, gapping up from $14.52 to $15.23 following insider buying activity from Director Robert W. Duggan.
• Duggan made multiple purchases, acquiring over 192,000 shares at various prices, increasing his total ownership to approximately 47.7 million shares valued at around $687 million.
• Oppenheimer has initiated coverage of Pulse Biosciences with an "outperform" rating and a target price of $22.00, while the stock currently holds a consensus "Buy" rating from analysts.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $14.52, but opened at $15.23. Pulse Biosciences shares last traded at $15.47, with a volume of 61,608 shares changing hands.

Specifically, Director Robert W. Duggan bought 12,800 shares of Pulse Biosciences stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average price of $14.77 per share, with a total value of $189,056.00. Following the completion of the acquisition, the director directly owned 47,564,000 shares in the company, valued at $702,520,280. The trade was a 0.03% 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. Also, Director Robert W. Duggan bought 34,659 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was acquired at an average cost of $14.66 per share, for a total transaction of $508,100.94. Following the completion of the acquisition, the director directly owned 47,551,200 shares in the company, valued at approximately $697,100,592. This trade represents a 0.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other Pulse Biosciences news, Director Robert W. Duggan bought 145,140 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $14.41 per share, with a total value of $2,091,467.40. Following the acquisition, the director directly owned 47,709,140 shares of the company's stock, valued at $687,488,707.40. The trade was a 0.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Separately, Oppenheimer assumed coverage on shares of Pulse Biosciences in a research note on Monday, July 7th. They issued an "outperform" rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $22.00.

Pulse Biosciences Trading Up 6.8%

The stock's 50-day moving average is $15.49 and its 200-day moving average is $16.16. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -14.84 and a beta of 1.68.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02).

Institutional Trading of Pulse Biosciences

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in Pulse Biosciences by 0.4% in the fourth quarter. Bank of America Corp DE now owns 788,454 shares of the company's stock valued at $13,727,000 after acquiring an additional 2,884 shares in the last quarter. Geode Capital Management LLC grew its position in Pulse Biosciences by 7.2% in the second quarter. Geode Capital Management LLC now owns 499,464 shares of the company's stock valued at $7,538,000 after acquiring an additional 33,744 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of Pulse Biosciences by 10.5% during the 2nd quarter. Westside Investment Management Inc. now owns 64,290 shares of the company's stock valued at $970,000 after buying an additional 6,135 shares during the last quarter. Nuveen LLC purchased a new position in shares of Pulse Biosciences during the 1st quarter valued at approximately $915,000. Finally, Panoramic Capital LLC boosted its stake in shares of Pulse Biosciences by 8.5% during the 1st quarter. Panoramic Capital LLC now owns 52,723 shares of the company's stock valued at $848,000 after buying an additional 4,152 shares during the last quarter. Institutional investors and hedge funds own 76.95% of the company's stock.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc operates as a novel bioelectric medicine company. The company offers CellFX System, a tunable, software-enabled, and console-based platform that delivers nano second duration pulses of electrical energy to non-thermally clear targeted cells while sparing adjacent non-cellular tissue to treat a various medical condition by using its Nano-Pulse Stimulation technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.