Pulse Biosciences (NASDAQ:PLSE) Shares Up 9.8% - Still a Buy?

Key Points

• Pulse Biosciences' stock price rose 9.8% on Thursday, trading as high as $17.78, despite a significant drop in the trading volume compared to its average.
• Wall Street analysts have issued an "outperform" rating for the company with a price target of $22.00, indicating strong growth expectations.
• Insider trading activity includes CTO Darrin Uecker selling 25,000 shares, while Director Robert W. Duggan purchased 34,659 shares, reflecting mixed insider sentiment.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) rose 9.8% on Thursday . The company traded as high as $17.78 and last traded at $17.86. Approximately 40,203 shares traded hands during trading, a decline of 77% from the average daily volume of 174,658 shares. The stock had previously closed at $16.27.

Wall Street Analyst Weigh In

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

Pulse Biosciences Stock Down 0.3%

The stock has a market capitalization of $1.18 billion, a P/E ratio of -16.72 and a beta of 1.68. The firm's 50-day simple moving average is $15.57 and its 200 day simple moving average is $16.14.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last announced 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).

Insiders Place Their Bets

In other news, CTO Darrin Uecker sold 20,000 shares of the stock in a transaction on 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 owned 122,872 shares in the company, valued at approximately $1,991,755.12. This represents a 14.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Duggan bought 34,659 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was bought at an average price 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. The trade was a 0.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 70,000 shares of company stock valued at $1,087,950 in the last quarter. Insiders own 74.60% of the company's stock.

Institutional Trading of Pulse Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of PLSE. Nuveen LLC acquired a new position in shares of Pulse Biosciences in the first quarter worth about $915,000. Pandora Wealth Inc. purchased a new stake in shares of Pulse Biosciences in the 1st quarter valued at approximately $828,000. Geode Capital Management LLC boosted its stake in Pulse Biosciences by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 499,464 shares of the company's stock worth $7,538,000 after purchasing an additional 33,744 shares during the period. XTX Topco Ltd purchased a new position in Pulse Biosciences during the 2nd quarter worth approximately $466,000. Finally, Quadrature Capital Ltd purchased a new position in Pulse Biosciences during the 2nd quarter worth approximately $388,000. Institutional investors and hedge funds own 76.95% of the company's stock.

About Pulse Biosciences

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.