Pulse Biosciences (NASDAQ:PLSE) Share Price Breaks Below 50-Day Moving Average – What’s Next?

Pulse Biosciences, Inc (NASDAQ:PLSE) crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $51.86 and traded as low as $50.20. Pulse Biosciences shares last traded at $50.44, with a volume of 590,839 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Pulse Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Canaccord Genuity Group lifted their target price on shares of Pulse Biosciences from $58.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 6th. Mizuho set a $65.00 price target on shares of Pulse Biosciences in a research note on Friday, November 6th. Freedom Capital raised shares of Pulse Biosciences to a “strong-buy” rating in a research report on Wednesday, September 9th. Finally, Needham & Company LLC upped their target price on shares of Pulse Biosciences from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.60.

Pulse Biosciences Stock Performance

The stock’s fifty day moving average price is $51.86 and its 200-day moving average price is $33.28. The firm has a market cap of $3.71 billion, a PE ratio of -41.69 and a beta of 1.65.

Pulse Biosciences (NASDAQ:PLSE) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.52 million. Pulse Biosciences had a negative return on equity of 77.88% and a negative net margin of 5,603.88%. The firm’s quarterly revenue was down 54.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.29) EPS. Sell-side analysts forecast that Pulse Biosciences, Inc will post -1.34 earnings per share for the current fiscal year.

Insider Transactions at Pulse Biosciences

In related news, COO Liane Teplitsky purchased 1,036 shares of Pulse Biosciences stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $48.23 per share, for a total transaction of $49,966.28. Following the transaction, the chief operating officer owned 1,036 shares in the company, valued at approximately $49,966.28. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought 4,095 shares of company stock valued at $199,931 over the last three months. Company insiders own 74.00% of the company’s stock.

Institutional Investors Weigh In On Pulse Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of PLSE. Marshall Wace LLP purchased a new position in Pulse Biosciences in the 3rd quarter valued at approximately $1,077,000. Xcelsior Advisor Partners LLC purchased a new stake in Pulse Biosciences during the third quarter worth $250,000. Sterling Capital Management LLC boosted its position in Pulse Biosciences by 844.6% during the third quarter. Sterling Capital Management LLC now owns 614 shares of the company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Bender Robert & Associates purchased a new stake in Pulse Biosciences during the third quarter worth $379,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Pulse Biosciences during the third quarter worth $242,000. Institutional investors and hedge funds own 76.95% of the company’s stock.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc. develops medical devices using its proprietary nanosecond pulsed field ablation (nsPFA) technology. The technology delivers very short electrical pulses intended to disrupt targeted cells without relying on heat, with the goal of limiting effects on surrounding tissue. The company is developing nsPFA applications for cardiac electrophysiology and surgical oncology, including devices for tissue ablation. Its earlier CellFX System brought the technology to dermatology for treating certain benign skin lesions, marking an initial commercial application of the platform.