Pulse Biosciences (NASDAQ:PLSE) Shares Gap Up After 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 after an insider bought additional shares in the company. 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 traded.

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

Wall Street Analysts Forecast Growth

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

Pulse Biosciences Stock Down 2.7%

The business has a fifty day simple moving average of $15.54 and a two-hundred day simple moving average of $16.15. The company has a market cap of $1.21 billion, a P/E ratio of -17.20 and a beta of 1.68.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02).

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PLSE. BNP Paribas Financial Markets raised its stake in shares of Pulse Biosciences by 63.6% in the second quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company's stock worth $26,000 after buying an additional 680 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Pulse Biosciences by 275.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company's stock worth $44,000 after buying an additional 2,156 shares during the period. AlphaQuest LLC raised its stake in shares of Pulse Biosciences by 68.0% in the first quarter. AlphaQuest LLC now owns 3,116 shares of the company's stock worth $50,000 after buying an additional 1,261 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Pulse Biosciences in the first quarter worth about $90,000. Finally, GAMMA Investing LLC raised its stake in shares of Pulse Biosciences by 2,203.1% in the first quarter. GAMMA Investing LLC now owns 6,034 shares of the company's stock worth $97,000 after buying an additional 5,772 shares during the period. Institutional investors 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.