Pulse Biosciences (NASDAQ:PLSE) Stock Price Up 7.1% - What's Next?

Key Points

• Pulse Biosciences' share price increased by 7.1% during mid-day trading, reaching a high of $16.42 before closing at $16.17.
• Oppenheimer has assumed coverage on Pulse Biosciences with an "outperform" rating and a target price of $22.00.
• Insider trading activity includes a significant sale by CTO Darrin Uecker, who sold 15,000 shares at an average price of $16.40.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report)'s stock price was up 7.1% during trading on Wednesday . The company traded as high as $16.42 and last traded at $16.17. Approximately 125,935 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 170,938 shares. The stock had previously closed at $15.10.

Analysts Set New Price Targets

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

Pulse Biosciences Price Performance

The company has a market capitalization of $1.05 billion, a P/E ratio of -14.93 and a beta of 1.60. The stock's fifty day simple moving average is $15.44 and its 200-day simple moving average is $16.88.

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

Insider Activity at Pulse Biosciences

In other news, CTO Darrin Uecker sold 15,000 shares of the firm's stock in a transaction 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 sale, the chief technology officer owned 137,872 shares in the company, valued at approximately $2,261,100.80. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 71.50% of the stock is currently owned by company insiders.

Institutional Trading of Pulse Biosciences

A number of hedge funds have recently bought and sold shares of PLSE. Tower Research Capital LLC TRC raised its position in shares of Pulse Biosciences by 98.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company's stock valued at $29,000 after buying an additional 838 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in 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 acquiring an additional 680 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Pulse Biosciences by 275.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company's stock worth $44,000 after acquiring an additional 2,156 shares during the period. AlphaQuest LLC lifted its position in shares of Pulse Biosciences by 68.0% in the 1st quarter. AlphaQuest LLC now owns 3,116 shares of the company's stock worth $50,000 after acquiring an additional 1,261 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Pulse Biosciences during the 1st quarter worth approximately $90,000. 76.95% of the stock is owned by institutional investors.

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.