Pulse Biosciences (NASDAQ:PLSE) Sees Large Volume Increase After Insider Buying Activity

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE) saw unusually-strong trading volume on Monday after an insider bought additional shares in the company. Approximately 771,664 shares traded hands during mid-day trading, an increase of 150% from the previous session’s volume of 308,746 shares.The stock last traded at $20.2650 and had previously closed at $19.08.

Specifically, Director Robert W. Duggan purchased 660,233 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $19.69 per share, for a total transaction of $12,999,987.77. Following the completion of the transaction, the director directly owned 48,211,433 shares in the company, valued at $949,283,115.77. This represents a 1.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paul A. Laviolette purchased 15,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $19.69 per share, with a total value of $295,350.00. Following the completion of the transaction, the chief executive officer owned 15,000 shares of the company’s stock, valued at $295,350. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Analyst Ratings Changes

A number of analysts recently issued reports on PLSE shares. Oppenheimer restated an “outperform” rating and issued a $30.00 price target on shares of Pulse Biosciences in a research report on Friday, February 20th. Mizuho set a $30.00 price target on Pulse Biosciences in a research report on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded Pulse Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.00.

Pulse Biosciences Price Performance

The firm has a market capitalization of $1.64 billion, a P/E ratio of -21.78 and a beta of 1.63. The firm has a 50-day moving average price of $21.03 and a two-hundred day moving average price of $17.69.

Pulse Biosciences (NASDAQ:PLSE) last released its earnings results on Monday, May 4th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.05. The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.25 million. Sell-side analysts predict that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Institutional Trading of Pulse Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in PLSE. Jane Street Group LLC bought a new stake in shares of Pulse Biosciences during the first quarter worth $323,000. Creative Planning increased its stake in shares of Pulse Biosciences by 26.3% during the second quarter. Creative Planning now owns 18,971 shares of the company’s stock valued at $286,000 after buying an additional 3,951 shares during the period. Legal & General Group Plc increased its stake in shares of Pulse Biosciences by 57.7% during the second quarter. Legal & General Group Plc now owns 22,415 shares of the company’s stock valued at $338,000 after buying an additional 8,197 shares during the period. Norges Bank purchased a new position in shares of Pulse Biosciences during the second quarter valued at $302,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Pulse Biosciences during the second quarter valued at $158,000. 76.95% of the stock is currently owned by 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.