Pulse Biosciences (NASDAQ:PLSE) Stock Price Down 7.9% – Here’s What Happened

Pulse Biosciences, Inc (NASDAQ:PLSE) shares traded down 7.9% during trading on Wednesday . The stock traded as low as $20.09 and last traded at $20.1140. 108,022 shares were traded during trading, a decline of 66% from the average session volume of 314,583 shares. The stock had previously closed at $21.83.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pulse Biosciences in a research note on Tuesday, April 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Pulse Biosciences in a report on Friday, February 20th. Mizuho set a $30.00 price target on Pulse Biosciences in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded Pulse Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Pulse Biosciences Price Performance

The stock has a market cap of $1.42 billion, a PE ratio of -19.29 and a beta of 1.70. The business has a fifty day moving average of $20.91 and a 200-day moving average of $17.55.

Pulse Biosciences (NASDAQ:PLSE) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.06. As a group, equities research analysts predict that Pulse Biosciences, Inc will post -1.51 EPS for the current year.

Insider Transactions at Pulse Biosciences

In other Pulse Biosciences news, insider Kevin Patrick Danahy sold 20,000 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $23.53, for a total transaction of $470,600.00. Following the sale, the insider directly owned 43,298 shares of the company’s stock, valued at approximately $1,018,801.94. This trade represents a 31.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 85,000 shares of company stock worth $1,994,400. Company insiders own 74.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL purchased a new position in Pulse Biosciences in the 4th quarter worth approximately $382,000. Inspire Investing LLC lifted its stake in Pulse Biosciences by 33.4% in the 4th quarter. Inspire Investing LLC now owns 34,192 shares of the company’s stock worth $469,000 after purchasing an additional 8,561 shares in the last quarter. California State Teachers Retirement System lifted its stake in Pulse Biosciences by 23.2% in the 4th quarter. California State Teachers Retirement System now owns 21,165 shares of the company’s stock worth $291,000 after purchasing an additional 3,991 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Pulse Biosciences by 13.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,106 shares of the company’s stock worth $70,000 after purchasing an additional 619 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its stake in Pulse Biosciences by 14.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 25,122 shares of the company’s stock worth $345,000 after purchasing an additional 3,258 shares in the last quarter. 76.95% of the stock is owned by hedge funds and other institutional investors.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc is a clinical-stage bioelectric medicine company that develops and commercializes medical devices based on its proprietary Tissue NanoPoration (TNP) platform. The company’s core technology, NanoPulse Stimulation (NPS), delivers ultrashort, high-voltage electric pulses to targeted tissue, triggering cellular responses without the thermal damage associated with traditional energy-based devices. Pulse Biosciences focuses on applications in dermatology and aesthetic medicine, where controlled ablation of unwanted lesions is critical.

The company’s flagship product, the CellFX® System, is designed to treat a range of benign and malignant skin lesions, including seborrheic keratosis, non-melanoma skin cancers, and various epidermal and dermal lesions.