Pulse Biosciences (NASDAQ:PLSE) Trading Down 5.2% - Time to Sell?

Key Points

• Pulse Biosciences (NASDAQ:PLSE) shares fell by 5.2% on Friday, with a last trading price of $16.41, significantly lower than the previous close.
• Despite the decline, Oppenheimer has initiated coverage with an "outperform" rating and a target price of $22.00 per share.
• Insider trading activity includes CTO Darrin Uecker selling 15,000 shares, decreasing his ownership by 9.81%, while institutional investors hold approximately 76.95% of the stock.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) traded down 5.2% during trading on Friday . The company traded as low as $17.20 and last traded at $16.41. 64,457 shares were traded during trading, a decline of 63% from the average session volume of 173,042 shares. The stock had previously closed at $17.31.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer began coverage on shares of Pulse Biosciences in a research note on Monday, July 7th. They issued an "outperform" rating and a $22.00 target price for the company.

Pulse Biosciences Price Performance

The firm has a market cap of $1.10 billion, a PE ratio of -15.66 and a beta of 1.60. The stock has a 50-day moving average price of $15.49 and a 200 day moving average price of $16.98.

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

Insider Buying and Selling

In related news, CTO Darrin Uecker sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.40, for a total value of $246,000.00. Following the completion of the sale, the chief technology officer directly owned 137,872 shares in the company, valued at approximately $2,261,100.80. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 71.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pulse Biosciences

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in shares of Pulse Biosciences by 1,956.7% during the 4th quarter. Invesco Ltd. now owns 214,490 shares of the company's stock valued at $3,734,000 after buying an additional 204,061 shares during the period. Vanguard Group Inc. grew its position in Pulse Biosciences by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 1,146,339 shares of the company's stock valued at $19,958,000 after acquiring an additional 150,506 shares during the period. Nuveen LLC purchased a new stake in Pulse Biosciences during the first quarter valued at about $915,000. Pandora Wealth Inc. purchased a new stake in Pulse Biosciences during the first quarter valued at about $828,000. Finally, Panoramic Capital LLC purchased a new stake in Pulse Biosciences during the fourth quarter valued at about $846,000. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

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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