Pulse Biosciences (NASDAQ:PLSE) Stock Price Down 9.2% Following Insider Selling

Pulse Biosciences, Inc (NASDAQ:PLSE)’s share price traded down 9.2% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $22.67 and last traded at $22.92. 284,789 shares traded hands during mid-day 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 the stock in a transaction that occurred 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 sale, the insider directly owned 43,298 shares in the company, valued at approximately $928,742.10. This represents a 31.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin Patrick Danahy sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $25.20, for a total transaction of $504,000.00. Following the transaction, the insider directly owned 43,298 shares in the company, valued at approximately $1,091,109.60. This trade represents a 31.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

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

Pulse Biosciences Trading Down 7.3%

The company has a market cap of $1.59 billion, a PE ratio of -20.71 and a beta of 1.77. The firm’s fifty day moving average is $15.17 and its 200 day moving average is $15.72.

Institutional Trading of Pulse Biosciences

Several large investors have recently made changes to their positions in PLSE. BNP Paribas Financial Markets boosted its stake in 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 buying an additional 680 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Pulse Biosciences by 275.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock valued at $44,000 after purchasing an additional 2,156 shares during the period. Russell Investments Group Ltd. grew its position in shares of Pulse Biosciences by 44.0% during the third quarter. Russell Investments Group Ltd. now owns 4,487 shares of the company’s stock worth $79,000 after buying an additional 1,372 shares in the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Pulse Biosciences by 136.0% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 5,900 shares of the company’s stock valued at $104,000 after purchasing an additional 3,400 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of Pulse Biosciences by 184.5% during the 2nd quarter. AlphaQuest LLC now owns 8,864 shares of the company’s stock worth $134,000 after acquiring an additional 5,748 shares in the last quarter. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

About Pulse Biosciences

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.