Pulse Biosciences (NASDAQ:PLSE) Shares Gap Down – What’s Next?

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE) gapped down prior to trading on Wednesday . The stock had previously closed at $55.20, but opened at $52.55. Pulse Biosciences shares last traded at $50.3040, with a volume of 87,788 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Freedom Capmkts raised Pulse Biosciences to a “strong-buy” rating in a research report on Wednesday, September 9th. Needham & Company LLC initiated coverage on Pulse Biosciences in a report on Monday, August 17th. They set a “buy” rating and a $58.00 price target for the company. Canaccord Genuity Group raised their price target on Pulse Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Friday, July 17th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.25.

Pulse Biosciences Price Performance

The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -42.89 and a beta of 1.63. The company’s 50-day simple moving average is $42.29 and its 200-day simple moving average is $30.01.

Pulse Biosciences (NASDAQ:PLSE) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 94.42%. The firm had revenue of $0.43 million during the quarter, compared to analyst estimates of $0.53 million. Research analysts expect that Pulse Biosciences, Inc will post -1.29 earnings per share for the current year.

Insider Activity

In related news, COO Liane Teplitsky purchased 1,001 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average cost of $49.95 per share, for a total transaction of $49,999.95. Following the completion of the purchase, the chief operating officer owned 4,095 shares in the company, valued at approximately $204,545.25. This represents a 32.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 4,095 shares of company stock valued at $199,931 in the last three months. Insiders own 74.00% of the company’s stock.

Institutional Trading of Pulse Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in Pulse Biosciences by 8.2% during the first quarter. Bank of America Corp DE now owns 866,061 shares of the company’s stock worth $18,698,000 after purchasing an additional 65,884 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Pulse Biosciences in the second quarter worth about $687,000. Panoramic Capital LLC bought a new position in shares of Pulse Biosciences in the second quarter worth about $2,719,000. Legal & General Group Plc acquired a new stake in shares of Pulse Biosciences in the 2nd quarter valued at approximately $395,000. Finally, BlackRock Inc. acquired a new stake in Pulse Biosciences in the second quarter valued at approximately $40,672,000. Institutional investors own 76.95% of the company’s stock.

About Pulse Biosciences

Pulse Biosciences, Inc is a medical technology company developing proprietary bioelectric therapies based on its Nano-Pulse Stimulation technology. The platform delivers ultrashort electrical pulses designed to affect targeted cells while limiting thermal damage to surrounding noncellular tissue.

The company’s primary product is the CellFX System, which is designed to deliver Nano-Pulse Stimulation treatments for certain dermatological conditions. Pulse Biosciences is also developing additional applications for its technology in areas including cardiac procedures and other medical specialties.

Pulse Biosciences was founded in 2014 and is headquartered in Hayward, California.