Formula Growth Ltd. Acquires New Stake in Pulse Biosciences, Inc $PLSE

Formula Growth Ltd. bought a new position in shares of Pulse Biosciences, Inc (NASDAQ:PLSE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $832,000.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of Pulse Biosciences in the first quarter worth about $323,000. Creative Planning grew its stake in Pulse Biosciences by 26.3% during the 2nd quarter. Creative Planning now owns 18,971 shares of the company’s stock valued at $286,000 after acquiring an additional 3,951 shares in the last quarter. Legal & General Group Plc grew its stake in Pulse Biosciences by 57.7% during the 2nd quarter. Legal & General Group Plc now owns 22,415 shares of the company’s stock valued at $338,000 after acquiring an additional 8,197 shares in the last quarter. Norges Bank acquired a new stake in Pulse Biosciences in the 2nd quarter valued at about $302,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Pulse Biosciences in the 2nd quarter worth approximately $158,000. 76.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Needham & Company LLC initiated coverage on Pulse Biosciences in a research report on Monday, August 17th. They set a “buy” rating and a $58.00 price objective on the stock. Wall Street Zen lowered Pulse Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Mizuho set a $45.00 target price on Pulse Biosciences in a report on Monday, August 10th. Finally, Canaccord Genuity Group raised their target price on Pulse Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.25.

Pulse Biosciences Stock Up 1.0%

Shares of NASDAQ PLSE opened at $48.56 on Friday. The business’s 50 day moving average is $34.94 and its two-hundred day moving average is $26.86. Pulse Biosciences, Inc has a 52-week low of $12.56 and a 52-week high of $50.90. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -41.15 and a beta of 1.61.

Pulse Biosciences (NASDAQ:PLSE) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). Pulse Biosciences had a negative return on equity of 94.42% and a negative net margin of 6,755.78%.The firm had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $0.53 million. Analysts anticipate that Pulse Biosciences, Inc will post -1.29 EPS for the current fiscal year.

Pulse Biosciences 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.