Pulse Biosciences (NASDAQ:PLSE) Issues Earnings Results

Pulse Biosciences (NASDAQ:PLSE) released its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.06, FiscalAI reports.

Pulse Biosciences Price Performance

Shares of NASDAQ:PLSE traded down $0.38 during mid-day trading on Thursday, reaching $25.08. 371,334 shares of the company traded hands, compared to its average volume of 360,387. The company’s 50 day moving average price is $15.98 and its 200-day moving average price is $15.97. The firm has a market cap of $1.70 billion, a PE ratio of -22.19 and a beta of 1.77. Pulse Biosciences has a 52 week low of $12.56 and a 52 week high of $26.30.

Insider Buying and Selling

In other news, insider Kevin Patrick Danahy sold 20,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $23.63, for a total value of $472,600.00. Following the completion of the sale, the insider directly owned 43,298 shares of the company’s stock, valued at $1,023,131.74. This represents a 31.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 80,000 shares of company stock worth $1,876,200. 74.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLSE. Bank of America Corp DE boosted its holdings in Pulse Biosciences by 2.7% in the 3rd quarter. Bank of America Corp DE now owns 804,960 shares of the company’s stock worth $14,248,000 after buying an additional 21,424 shares during the period. State Street Corp lifted its position in shares of Pulse Biosciences by 6.0% in the fourth quarter. State Street Corp now owns 447,067 shares of the company’s stock valued at $6,138,000 after acquiring an additional 25,187 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Pulse Biosciences by 330.7% in the fourth quarter. Brooklyn Investment Group now owns 130,340 shares of the company’s stock worth $1,844,000 after acquiring an additional 100,081 shares during the period. Portolan Capital Management LLC purchased a new stake in shares of Pulse Biosciences during the third quarter worth about $1,809,000. Finally, UBS Group AG grew its position in shares of Pulse Biosciences by 53.4% during the third quarter. UBS Group AG now owns 76,856 shares of the company’s stock worth $1,360,000 after purchasing an additional 26,739 shares in the last quarter. Hedge funds and other institutional investors own 76.95% of the company’s stock.

Analysts Set New Price Targets

PLSE has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Pulse Biosciences in a report on Thursday, January 22nd. Mizuho set a $30.00 target price on shares of Pulse Biosciences in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.00.

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.