Pulse Biosciences (NASDAQ:PLSE) Stock Price Up 9.4% – Here’s Why

Pulse Biosciences, Inc (NASDAQ:PLSE) shares rose 9.4% during mid-day trading on Monday . The stock traded as high as $33.15 and last traded at $33.07. Approximately 166,997 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 332,235 shares. The stock had previously closed at $30.23.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Pulse Biosciences in a report on Friday, July 17th. Canaccord Genuity Group assumed coverage on shares of Pulse Biosciences in a report on Thursday, June 4th. They issued a “buy” rating and a $32.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.67.

Pulse Biosciences Price Performance

The stock’s 50-day moving average price is $26.76 and its 200 day moving average price is $22.14. The firm has a market capitalization of $2.31 billion, a PE ratio of -30.26 and a beta of 1.65.

Pulse Biosciences (NASDAQ:PLSE) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.05. The firm had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.25 million. Equities research analysts forecast that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert W. Duggan purchased 660,233 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $19.69 per share, with a total value of $12,999,987.77. Following the completion of the purchase, the director directly owned 48,211,433 shares of the company’s stock, valued at approximately $949,283,115.77. The trade was a 1.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul A. Laviolette bought 15,000 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $19.69 per share, for a total transaction of $295,350.00. Following the completion of the acquisition, the chief executive officer owned 15,000 shares in the company, valued at approximately $295,350. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 74.00% of the stock is owned by corporate insiders.

Institutional Trading of Pulse Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in PLSE. Russell Investments Group Ltd. grew its position in Pulse Biosciences by 13.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,106 shares of the company’s stock valued at $70,000 after buying an additional 619 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Pulse Biosciences by 63.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company’s stock worth $26,000 after acquiring an additional 680 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Pulse Biosciences by 6.7% in the third quarter. Alliancebernstein L.P. now owns 20,620 shares of the company’s stock valued at $365,000 after purchasing an additional 1,300 shares during the last quarter. Westside Investment Management Inc. raised its position in Pulse Biosciences by 2.9% during the fourth quarter. Westside Investment Management Inc. now owns 66,326 shares of the company’s stock worth $911,000 after acquiring an additional 1,886 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Pulse Biosciences by 275.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock valued at $44,000 after buying an additional 2,156 shares in the last quarter. Institutional investors and hedge funds 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.