Pulse Biosciences (NASDAQ:PLSE) Shares Gap Down – Should You Sell?

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE) gapped down prior to trading on Wednesday . The stock had previously closed at $55.20, but opened at $52.55. Pulse Biosciences shares last traded at $50.3040, with a volume of 87,788 shares trading hands.

Analysts Set New Price Targets

PLSE has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Pulse Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, September 6th. Needham & Company LLC assumed coverage on shares of Pulse Biosciences in a research report on Monday, August 17th. They issued a “buy” rating and a $58.00 target price for the company. Canaccord Genuity Group upped their price target on shares of Pulse Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Freedom Capmkts upgraded shares of Pulse Biosciences to a “strong-buy” rating in a research report on Wednesday, September 9th. Finally, Mizuho set a $45.00 price objective on shares of Pulse Biosciences in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.25.

Pulse Biosciences Trading Down 9.5%

The firm has a market capitalization of $3.46 billion, a P/E ratio of -42.26 and a beta of 1.63. The firm has a 50-day moving average of $41.40 and a two-hundred day moving average of $29.57.

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

Insider Buying and Selling

In related news, COO Liane Teplitsky bought 1,036 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $48.23 per share, for a total transaction of $49,966.28. Following the completion of the transaction, the chief operating officer directly owned 1,036 shares of the company’s stock, valued at approximately $49,966.28. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have purchased 4,095 shares of company stock valued at $199,931. 74.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pulse Biosciences

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Pulse Biosciences in the 2nd quarter worth about $40,672,000. Bank of America Corp DE bought a new stake in shares of Pulse Biosciences during the second quarter worth about $40,115,000. Panoramic Capital LLC bought a new stake in shares of Pulse Biosciences during the second quarter worth about $2,719,000. Bank of New York Mellon Corp acquired a new position in shares of Pulse Biosciences in the second quarter valued at approximately $1,196,000. Finally, Formula Growth Ltd. acquired a new position in shares of Pulse Biosciences in the second quarter valued at approximately $832,000. Institutional investors and hedge funds own 76.95% of the company’s stock.

About Pulse Biosciences

Pulse Biosciences, Inc is a medical technology company developing proprietary bioelectric therapies based on its Nano-Pulse Stimulation technology. The platform delivers ultrashort electrical pulses designed to affect targeted cells while limiting thermal damage to surrounding noncellular tissue.

The company’s primary product is the CellFX System, which is designed to deliver Nano-Pulse Stimulation treatments for certain dermatological conditions. Pulse Biosciences is also developing additional applications for its technology in areas including cardiac procedures and other medical specialties.

Pulse Biosciences was founded in 2014 and is headquartered in Hayward, California.