Pulse Biosciences (NASDAQ:PLSE) Shares Up 6.3% - Should You Buy?

Key Points

• Pulse Biosciences shares surged 6.3%, reaching a last trading price of $18.17, despite a significant decline in trading volume.
• Oppenheimer has initiated coverage on Pulse Biosciences with an "outperform" rating and a price target of $22.00, contributing to its current consensus rating of "Buy".
• Insider trading activity has seen executives sell a total of 90,400 shares over the last 90 days, raising concerns about ownership dilution, as insiders now hold 74.60% of the stock.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) shares shot up 6.3% on Friday . The stock traded as high as $18.02 and last traded at $18.17. 30,951 shares traded hands during trading, a decline of 83% from the average session volume of 178,438 shares. The stock had previously closed at $17.09.

Analysts Set New Price Targets

Separately, Oppenheimer began coverage on shares of Pulse Biosciences in a research report on Monday, July 7th. They set an "outperform" rating and a $22.00 price objective for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $22.00.

Pulse Biosciences Stock Up 3.9%

The business's 50-day moving average is $15.72 and its two-hundred day moving average is $16.16. The company has a market capitalization of $1.19 billion, a P/E ratio of -16.90 and a beta of 1.68.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last released its quarterly 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).

Insiders Place Their Bets

In other Pulse Biosciences news, insider Kevin Patrick Danahy sold 20,000 shares of Pulse Biosciences stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $18.49, for a total value of $369,800.00. Following the sale, the insider owned 43,298 shares of the company's stock, valued at approximately $800,580.02. The trade was a 31.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Darrin Uecker sold 20,000 shares of Pulse Biosciences stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $16.21, for a total transaction of $324,200.00. Following the completion of the sale, the chief technology officer directly owned 122,872 shares in the company, valued at approximately $1,991,755.12. This represents a 14.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,400 shares of company stock valued at $1,465,142. Company insiders own 74.60% of the company's stock.

Institutional Trading of Pulse Biosciences

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in 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 acquiring an additional 680 shares during the period. AlphaQuest LLC increased 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 purchasing an additional 1,261 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Pulse Biosciences by 6.3% in the first quarter. Rhumbline Advisers now owns 27,375 shares of the company's stock worth $440,000 after purchasing an additional 1,614 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Pulse Biosciences by 24.6% in the first quarter. Farther Finance Advisors LLC now owns 8,998 shares of the company's stock worth $143,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased 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 purchasing an additional 2,156 shares in the last quarter. 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.

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