Pulse Biosciences (NASDAQ:PLSE) Trading Down 6.6% – Here’s What Happened

Pulse Biosciences, Inc. (NASDAQ:PLSE) was down 6.6% during trading on Thursday . The company traded as low as $23.24 and last traded at $22.93. Approximately 44,313 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 139,864 shares. The stock had previously closed at $24.56.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Pulse Biosciences to a “sell” rating in a research report on Thursday, January 2nd.

Pulse Biosciences Price Performance

The stock’s 50-day moving average price is $18.82 and its 200 day moving average price is $17.89.

Insider Buying and Selling

In related news, CEO Burke Thomas Barrett sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $17.42, for a total transaction of $871,000.00. Following the completion of the sale, the chief executive officer now directly owns 63,172 shares in the company, valued at approximately $1,100,456.24. This trade represents a 44.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Duggan acquired 56,054 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $17.35 per share, with a total value of $972,536.90. Following the completion of the transaction, the director now owns 42,228,057 shares of the company’s stock, valued at $732,656,788.95. The trade was a 0.13 % increase in their position. The disclosure for this purchase can be found here. 71.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PLSE. SG Americas Securities LLC purchased a new position in Pulse Biosciences during the fourth quarter worth about $193,000. Oppenheimer & Co. Inc. purchased a new position in Pulse Biosciences during the fourth quarter worth about $311,000. Franklin Resources Inc. purchased a new position in Pulse Biosciences during the third quarter worth about $378,000. Creative Planning boosted its stake in Pulse Biosciences by 113.9% during the third quarter. Creative Planning now owns 21,910 shares of the company’s stock worth $384,000 after buying an additional 11,667 shares during the period. Finally, Barclays PLC boosted its stake in Pulse Biosciences by 361.4% during the third quarter. Barclays PLC now owns 30,306 shares of the company’s stock worth $530,000 after buying an additional 23,738 shares during the period. Hedge funds and other institutional investors own 76.95% of the company’s stock.

About Pulse Biosciences

Pulse Biosciences, Inc operates as a novel bioelectric medicine company. The company offers CellFX System, a tunable, software-enabled, and console-based platform that delivers nano second duration pulses of electrical energy to non-thermally clear targeted cells while sparing adjacent non-cellular tissue to treat a various medical condition by using its Nano-Pulse Stimulation technology.