Pulse Biosciences (NASDAQ:PLSE) Stock Price Up 3.3% – Here’s What Happened

Pulse Biosciences, Inc (NASDAQ:PLSE)’s stock price shot up 3.3% during mid-day trading on Wednesday. The stock traded as high as $56.74 and last traded at $54.4380. Approximately 132,644 shares changed hands during trading, a decline of 65% from the average session volume of 382,722 shares. The stock had previously closed at $52.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PLSE shares. Freedom Capital raised Pulse Biosciences to a “strong-buy” rating in a research report on Wednesday, September 9th. Wall Street Zen upgraded shares of Pulse Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, September 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pulse Biosciences in a report on Friday, July 17th. Mizuho set a $45.00 price target on shares of Pulse Biosciences in a research report on Monday, August 10th. Finally, BTIG Research began coverage on shares of Pulse Biosciences in a report on Wednesday. They set a “buy” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pulse Biosciences has a consensus rating of “Moderate Buy” and an average target price of $50.20.

Pulse Biosciences Price Performance

The stock has a fifty day moving average of $44.94 and a 200 day moving average of $31.22. The firm has a market capitalization of $3.67 billion, a P/E ratio of -43.92 and a beta of 1.63.

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

Insiders Place Their Bets

In related news, COO Liane Teplitsky acquired 1,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $48.23 per share, for a total transaction of $49,966.28. Following the completion of the acquisition, the chief operating officer owned 1,036 shares of the company’s stock, valued at approximately $49,966.28. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 4,095 shares of company stock worth $199,931 in the last three months. 74.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. purchased a new stake in shares of Pulse Biosciences during the 2nd quarter worth approximately $28,000. Jupiter Topco LLC purchased a new position in Pulse Biosciences in the second quarter valued at approximately $241,000. GSA Capital Partners LLP bought a new position in Pulse Biosciences during the second quarter valued at $290,000. Cetera Investment Advisers purchased a new stake in Pulse Biosciences in the first quarter worth $387,000. Finally, Legal & General Group Plc bought a new stake in shares of Pulse Biosciences in the second quarter valued at $395,000. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

Pulse Biosciences Company Profile

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.