Pulse Biosciences (NASDAQ:PLSE) Stock Price Down 6.4% - Here's What Happened

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.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) fell 6.4% during mid-day trading on Friday . The stock traded as low as $14.34 and last traded at $14.13. 62,922 shares traded hands during mid-day trading, a decline of 63% from the average session 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 note on Monday, July 7th. They set an "outperform" rating and a $22.00 target price for the company. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $22.00.

Pulse Biosciences Stock Up 5.7%

The company has a 50 day moving average of $15.51 and a 200 day moving average of $16.15.

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

In related news, Director Robert W. Duggan bought 34,659 shares of the stock in a transaction dated Wednesday, September 10th. The shares were acquired 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 in the company, valued at approximately $697,100,592. This trade represents a 0.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Darrin Uecker sold 25,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $15.77, for a total value of $394,250.00. Following the completion of the sale, the chief technology officer directly owned 122,872 shares of the company's stock, valued at approximately $1,937,691.44. This represents a 16.91% decrease in their position. The disclosure for this sale can be found here. 74.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pulse Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLSE. Nuveen LLC acquired a new stake in shares of Pulse Biosciences in the 1st quarter worth $915,000. Pandora Wealth Inc. purchased a new stake in shares of Pulse Biosciences in the first quarter valued at about $828,000. Geode Capital Management LLC increased its position in Pulse Biosciences by 7.2% during the second 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 last quarter. XTX Topco Ltd purchased a new position in Pulse Biosciences during the second quarter worth about $466,000. Finally, Quadrature Capital Ltd purchased a new position in Pulse Biosciences during the second quarter worth about $388,000. Institutional investors and hedge funds 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.