Pulse Biosciences (NASDAQ:PLSE) Trading Down 9.2% on Insider Selling

Pulse Biosciences, Inc (NASDAQ:PLSE) shares traded down 9.2% on Thursday following insider selling activity. The company traded as low as $22.67 and last traded at $22.92. 284,789 shares changed hands during trading, a decline of 16% from the average session volume of 338,813 shares. The stock had previously closed at $25.25.

Specifically, insider Kevin Patrick Danahy sold 20,000 shares of Pulse Biosciences stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.45, for a total value of $429,000.00. Following the completion of the sale, the insider owned 43,298 shares of the company’s stock, valued at $928,742.10. The trade was a 31.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kevin Patrick Danahy sold 20,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $25.20, for a total value of $504,000.00. Following the completion of the transaction, the insider directly owned 43,298 shares in the company, valued at approximately $1,091,109.60. This represents a 31.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Mizuho set a $30.00 price target on Pulse Biosciences in a research note on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pulse Biosciences in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

Pulse Biosciences Stock Down 1.7%

The firm has a 50 day moving average price of $15.36 and a 200 day moving average price of $15.77. The stock has a market cap of $1.56 billion, a P/E ratio of -20.36 and a beta of 1.77.

Hedge Funds Weigh In On Pulse Biosciences

Several large investors have recently added to or reduced their stakes in PLSE. State Street Corp increased its stake 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 worth $6,138,000 after purchasing an additional 25,187 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Pulse Biosciences by 62.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,149 shares of the company’s stock valued at $304,000 after buying an additional 8,502 shares in the last quarter. 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 worth $1,844,000 after buying an additional 100,081 shares during the period. Deutsche Bank AG increased its stake in Pulse Biosciences by 33.0% in the 4th quarter. Deutsche Bank AG now owns 21,516 shares of the company’s stock worth $295,000 after buying an additional 5,335 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Pulse Biosciences by 31.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 22,453 shares of the company’s stock worth $308,000 after buying an additional 5,322 shares in the last quarter. Hedge funds and other institutional investors 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.