Pulse Biosciences (NASDAQ:PLSE) Stock Price Down 11.7% - Here's Why

Key Points

• Shares dropped 11.7% to about $20.25 on Tuesday (intraday low $19.81) on thin trading of ~47,845 shares, roughly 85% below the stock's average daily volume.
• Analysts hold a consensus "Hold" with an average price target of $30 (two Buys, one Sell), including $30 targets from Mizuho and Oppenheimer.
• Pulse beat quarterly estimates with EPS of ($0.26) vs. ($0.32) expected, but insiders have sold ~85,000 shares in the past 90 days (insiders still own 74.6% and institutions ~76.95%).

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) shares dropped 11.7% during trading on Tuesday . The company traded as low as $19.81 and last traded at $20.2530. Approximately 47,845 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 326,763 shares. The stock had previously closed at $22.94.

Wall Street Analysts Forecast Growth

PLSE has been the topic of a number of recent research reports. Mizuho set a $30.00 price objective on Pulse Biosciences in a research report on Friday, February 6th. Oppenheimer restated an "outperform" rating and issued a $30.00 price target on shares of Pulse Biosciences in a research report on Friday, February 20th. Wall Street Zen upgraded Pulse Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Pulse Biosciences in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $30.00.

Pulse Biosciences Stock Performance

The firm has a market capitalization of $1.33 billion, a P/E ratio of -18.13 and a beta of 1.70. The company has a 50-day moving average price of $20.21 and a 200-day moving average price of $17.15.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.06.

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 Friday, February 13th. The stock was sold at an average price of $23.53, for a total transaction of $470,600.00. Following the transaction, the insider directly owned 43,298 shares in the company, valued at approximately $1,018,801.94. The trade was a 31.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 85,000 shares of company stock worth $1,994,400 in the last 90 days. Insiders own 74.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLSE. BNP Paribas Financial Markets raised its stake in shares of Pulse Biosciences by 63.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company's stock valued at $26,000 after purchasing an additional 680 shares during the period. Tower Research Capital LLC TRC grew its holdings in Pulse Biosciences by 275.0% during 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 during the period. Russell Investments Group Ltd. grew its holdings in Pulse Biosciences by 44.0% during the third quarter. Russell Investments Group Ltd. now owns 4,487 shares of the company's stock worth $79,000 after purchasing an additional 1,372 shares during the period. KLP Kapitalforvaltning AS grew its holdings in Pulse Biosciences by 136.0% during the third quarter. KLP Kapitalforvaltning AS now owns 5,900 shares of the company's stock worth $104,000 after purchasing an additional 3,400 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Pulse Biosciences during the second quarter worth about $158,000. 76.95% of the stock is currently owned by institutional investors.

About Pulse Biosciences

Pulse Biosciences, Inc is a clinical-stage bioelectric medicine company that develops and commercializes medical devices based on its proprietary Tissue NanoPoration (TNP) platform. The company’s core technology, NanoPulse Stimulation (NPS), delivers ultrashort, high-voltage electric pulses to targeted tissue, triggering cellular responses without the thermal damage associated with traditional energy-based devices. Pulse Biosciences focuses on applications in dermatology and aesthetic medicine, where controlled ablation of unwanted lesions is critical.

The company’s flagship product, the CellFX® System, is designed to treat a range of benign and malignant skin lesions, including seborrheic keratosis, non-melanoma skin cancers, and various epidermal and dermal lesions.

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