Pulse Biosciences (NASDAQ:PLSE) Shares Gap Up After Insider Buying Activity

Pulse Biosciences, Inc (NASDAQ:PLSE)’s share price gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $19.08, but opened at $20.74. Pulse Biosciences shares last traded at $22.22, with a volume of 73,588 shares trading hands.

Specifically, Director Robert W. Duggan bought 660,233 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $19.69 per share, with a total value of $12,999,987.77. Following the transaction, the director owned 48,211,433 shares of the company’s stock, valued at approximately $949,283,115.77. This trade represents a 1.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul A. Laviolette purchased 15,000 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $19.69 per share, with a total value of $295,350.00. Following the transaction, the chief executive officer directly owned 15,000 shares in the company, valued at approximately $295,350. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PLSE shares. Mizuho set a $30.00 price objective on shares of Pulse Biosciences in a research note on Friday, February 6th. Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of Pulse Biosciences in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded Pulse Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Pulse Biosciences Price Performance

The company’s fifty day simple moving average is $20.84 and its 200-day simple moving average is $17.60. The firm has a market capitalization of $1.48 billion, a PE ratio of -19.59 and a beta of 1.63.

Pulse Biosciences (NASDAQ:PLSE) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.05. The business had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.25 million. As a group, equities research analysts anticipate that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pulse Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Pulse Biosciences by 63.6% during the second quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company’s stock worth $26,000 after acquiring an additional 680 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Pulse Biosciences by 275.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock worth $44,000 after purchasing an additional 2,156 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Pulse Biosciences by 44.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,487 shares of the company’s stock valued at $79,000 after purchasing an additional 1,372 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Pulse Biosciences by 136.0% in the third quarter. KLP Kapitalforvaltning AS now owns 5,900 shares of the company’s stock worth $104,000 after buying an additional 3,400 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Pulse Biosciences during the second quarter worth $158,000. Institutional investors and hedge funds own 76.95% of the company’s stock.

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.