Pulse Biosciences (NASDAQ:PLSE) Trading Down 7.4% – Here’s Why

Pulse Biosciences, Inc. (NASDAQ:PLSE) shares were down 7.4% on Wednesday . The stock traded as low as $16.26 and last traded at $16.32. Approximately 75,692 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 202,513 shares. The stock had previously closed at $17.63.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Pulse Biosciences to a “sell” rating in a research report on Friday, September 20th.

Pulse Biosciences Price Performance

The business has a 50-day simple moving average of $17.93 and a 200 day simple moving average of $13.84. The firm has a market cap of $1.04 billion, a PE ratio of -20.62 and a beta of 1.74.

Hedge Funds Weigh In On Pulse Biosciences

A number of hedge funds have recently modified their holdings of the company. Creative Planning boosted its position in shares of Pulse Biosciences by 113.9% in the third quarter. Creative Planning now owns 21,910 shares of the company’s stock worth $384,000 after purchasing an additional 11,667 shares during the period. Quest Partners LLC bought a new position in shares of Pulse Biosciences in the second quarter worth approximately $91,000. Rhumbline Advisers boosted its position in shares of Pulse Biosciences by 6.7% in the second quarter. Rhumbline Advisers now owns 25,729 shares of the company’s stock worth $288,000 after purchasing an additional 1,608 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Pulse Biosciences by 23.4% in the second quarter. Bank of New York Mellon Corp now owns 50,914 shares of the company’s stock worth $570,000 after purchasing an additional 9,639 shares during the period. Finally, Westside Investment Management Inc. boosted its position in shares of Pulse Biosciences by 97.8% in the second quarter. Westside Investment Management Inc. now owns 63,600 shares of the company’s stock worth $712,000 after purchasing an additional 31,440 shares during the period. 76.95% of the stock is currently owned by institutional investors.

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.