Pulse Biosciences (NASDAQ:PLSE) Stock Falls 7.9% – Time to Sell?

Pulse Biosciences, Inc (NASDAQ:PLSE)’s stock price was down 7.9% during mid-day trading on Tuesday. The stock traded as low as $54.74 and last traded at $53.5680. 64,250 shares traded hands during trading, a decline of 84% from the average daily volume of 389,867 shares. The stock had previously closed at $58.17.

Wall Street Analyst Weigh In

PLSE has been the subject of a number of research reports. Wall Street Zen cut Pulse Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. BTIG Research started coverage on Pulse Biosciences in a research report on Wednesday, September 23rd. They set a “buy” rating and a $70.00 price objective on the stock. Needham & Company LLC upped their target price on Pulse Biosciences from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pulse Biosciences in a report on Thursday, October 15th. Finally, Canaccord Genuity Group increased their target price on Pulse Biosciences from $58.00 to $74.00 and gave the company a “buy” rating in a research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.60.

Pulse Biosciences Trading Up 3.4%

The stock’s fifty day simple moving average is $51.95 and its two-hundred day simple moving average is $32.91.

Pulse Biosciences (NASDAQ:PLSE) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The business had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.52 million. Pulse Biosciences had a negative net margin of 5,603.88% and a negative return on equity of 77.88%. The company’s revenue was down 54.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) earnings per share. On average, equities analysts predict that Pulse Biosciences, Inc will post -1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Liane Teplitsky bought 1,001 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average cost of $49.95 per share, with a total value of $49,999.95. Following the transaction, the chief operating officer directly owned 4,095 shares in the company, valued at approximately $204,545.25. This trade represents a 32.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 4,095 shares of company stock valued at $199,931 in the last three months. Corporate insiders own 74.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PLSE. Sterling Capital Management LLC raised its position in shares of 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 acquiring an additional 549 shares during the last quarter. Bender Robert & Associates bought a new stake in Pulse Biosciences in the third quarter valued at approximately $379,000. Axxcess Wealth Management LLC acquired a new stake in Pulse Biosciences during the 3rd quarter valued at approximately $242,000. Formula Growth Ltd. acquired a new stake in Pulse Biosciences during the 2nd quarter valued at approximately $832,000. Finally, Panoramic Capital LLC acquired a new stake in Pulse Biosciences during the 2nd quarter valued at approximately $2,719,000. 76.95% of the stock is owned by institutional investors and hedge funds.

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.