Pulse Biosciences (NASDAQ:PLSE) Shares Down 6.4% - What's Next?

Key Points

• Pulse Biosciences' share price decreased by 6.4% on Friday, closing at $14.13 after trading as low as $14.34, with trading volume down 63% from the average.
• Analysts from Oppenheimer have started coverage with an "outperform" rating and a price target of $22.00, contributing to the stock's overall average rating of "Buy".
• The company reported a loss of ($0.28) EPS, missing analyst expectations by $0.02 during their last earnings announcement.

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) were down 6.4% during trading on Friday . The stock traded as low as $14.34 and last traded at $14.13. Approximately 62,922 shares traded hands during trading, a decline of 63% from the average daily volume of 170,863 shares. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

Separately, Oppenheimer started 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 on the stock. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Pulse Biosciences has an average rating of "Buy" and a consensus price target of $22.00.

Pulse Biosciences Trading Down 2.2%

The firm has a market cap of $1.09 billion, a P/E ratio of -15.50 and a beta of 1.68. The company's 50 day simple moving average is $15.51 and its 200-day simple moving average is $16.15.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its earnings results 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).

Insider Activity at Pulse Biosciences

In other Pulse Biosciences news, CTO Darrin Uecker sold 25,000 shares of Pulse Biosciences stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $15.77, for a total transaction of $394,250.00. Following the transaction, the chief technology officer owned 122,872 shares of the company's stock, valued at $1,937,691.44. The trade was a 16.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Duggan purchased 34,659 shares of the stock in a transaction on Wednesday, September 10th. The shares were purchased at an average cost of $14.66 per share, for a total transaction of $508,100.94. Following the acquisition, the director directly owned 47,551,200 shares of the company's stock, valued at approximately $697,100,592. This represents a 0.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. 74.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Pulse Biosciences

Several hedge funds have recently modified their holdings of the stock. Nuveen LLC bought a new stake in Pulse Biosciences in the first quarter worth $915,000. Pandora Wealth Inc. purchased a new stake in Pulse Biosciences during the first quarter valued at $828,000. Geode Capital Management LLC raised its stake in Pulse Biosciences by 7.2% during the second quarter. Geode Capital Management LLC now owns 499,464 shares of the company's stock valued at $7,538,000 after purchasing an additional 33,744 shares in the last quarter. XTX Topco Ltd purchased a new stake in Pulse Biosciences during the second quarter valued at $466,000. Finally, Quadrature Capital Ltd purchased a new stake in Pulse Biosciences during the second quarter valued at $388,000. Hedge funds and other 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.