Pulse Biosciences (NASDAQ:PLSE) Shares Up 8% – Here’s Why

Pulse Biosciences, Inc (NASDAQ:PLSE)’s share price rose 8% on Tuesday . The company traded as high as $19.69 and last traded at $19.7160. Approximately 215,063 shares changed hands during trading, a decline of 39% from the average daily volume of 352,664 shares. The stock had previously closed at $18.25.

Analyst Ratings Changes

A number of research firms have commented on PLSE. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Pulse Biosciences in a research report on Friday, February 20th. Wall Street Zen upgraded Pulse Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Mizuho set a $30.00 price objective on Pulse Biosciences in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Pulse Biosciences Stock Up 6.4%

The firm has a market capitalization of $1.32 billion, a PE ratio of -17.97 and a beta of 1.73. The stock’s fifty day simple moving average is $17.27 and its 200 day simple moving average is $16.32.

Pulse Biosciences (NASDAQ:PLSE) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.06.

Insiders Place Their Bets

In other Pulse Biosciences news, insider Kevin Patrick Danahy sold 20,000 shares of the business’s 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 completion of the sale, the insider owned 43,298 shares of the company’s stock, valued at approximately $1,018,801.94. The trade was a 31.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 85,000 shares of company stock worth $1,994,400 in the last quarter. 74.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Pulse Biosciences by 2.7% during the 3rd quarter. Bank of America Corp DE now owns 804,960 shares of the company’s stock valued at $14,248,000 after acquiring an additional 21,424 shares during the period. Geode Capital Management LLC raised its stake in Pulse Biosciences by 7.2% during the 2nd quarter. Geode Capital Management LLC now owns 499,464 shares of the company’s stock worth $7,538,000 after acquiring an additional 33,744 shares during the period. State Street Corp lifted its holdings in Pulse Biosciences by 6.0% during the fourth quarter. State Street Corp now owns 447,067 shares of the company’s stock valued at $6,138,000 after purchasing an additional 25,187 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Pulse Biosciences by 330.7% during the fourth quarter. Brooklyn Investment Group now owns 130,340 shares of the company’s stock valued at $1,844,000 after purchasing an additional 100,081 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new position in shares of Pulse Biosciences in the third quarter worth approximately $1,809,000. Institutional investors own 76.95% of the company’s stock.

About Pulse Biosciences

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.