Pulse Biosciences (NASDAQ:PLSE) Shares Down 7% – Time to Sell?

Pulse Biosciences, Inc (NASDAQ:PLSE) shares were down 7% on Monday . The stock traded as low as $20.06 and last traded at $19.9910. Approximately 9,645 shares changed hands during trading, a decline of 97% from the average daily volume of 338,925 shares. The stock had previously closed at $21.50.

Wall Street Analyst Weigh In

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

Pulse Biosciences Price Performance

The stock has a market capitalization of $1.51 billion, a PE ratio of -20.39 and a beta of 1.74. The company’s 50 day moving average price is $19.53 and its two-hundred day moving average price is $16.98.

Pulse Biosciences (NASDAQ:PLSE) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.06.

Insider Activity

In related news, insider Kevin Patrick Danahy sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $23.64, for a total value of $118,200.00. Following the completion of the sale, the insider owned 43,298 shares of the company’s stock, valued at approximately $1,023,564.72. This trade represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 85,000 shares of company stock valued at $1,994,400 in the last ninety days. 74.60% of the stock is owned by corporate insiders.

Institutional Trading of Pulse Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of PLSE. Bank of America Corp DE raised its holdings 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 worth $14,248,000 after acquiring an additional 21,424 shares during the period. Geode Capital Management LLC increased its position in Pulse Biosciences by 7.2% during the second quarter. Geode Capital Management LLC now owns 499,464 shares of the company’s stock worth $7,538,000 after purchasing an additional 33,744 shares during the last quarter. State Street Corp raised its stake in Pulse Biosciences by 6.0% during the fourth quarter. State Street Corp now owns 447,067 shares of the company’s stock worth $6,138,000 after purchasing an additional 25,187 shares during the period. Brooklyn Investment Group boosted its holdings in Pulse Biosciences by 330.7% in the 4th 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 during the last quarter. Finally, Portolan Capital Management LLC acquired a new position in Pulse Biosciences in the 3rd quarter valued at about $1,809,000. 76.95% of the stock is owned by institutional investors and hedge funds.

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.