Insider Selling: electroCore (NASDAQ:ECOR) CFO Sells $49,400.00 in Stock

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 5,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $9.88, for a total transaction of $49,400.00. Following the completion of the transaction, the chief financial officer directly owned 84,889 shares of the company’s stock, valued at $838,703.32. The trade was a 5.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

electroCore Price Performance

electroCore stock opened at $9.71 on Friday. electroCore, Inc. has a 12-month low of $4.41 and a 12-month high of $10.95. The stock has a market capitalization of $87.58 million, a P/E ratio of -5.85 and a beta of 0.92. The firm’s 50-day moving average is $7.81 and its two-hundred day moving average is $7.30.

electroCore (NASDAQ:ECOR) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $9.45 million during the quarter, compared to the consensus estimate of $9.49 million. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. As a group, analysts forecast that electroCore, Inc. will post -1.4 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Investors Weigh In On electroCore

A number of institutional investors have recently bought and sold shares of the stock. Tejara Capital Ltd acquired a new position in electroCore during the fourth quarter worth approximately $450,000. International Assets Investment Management LLC boosted its holdings in shares of electroCore by 15.2% in the 4th quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock valued at $398,000 after purchasing an additional 11,700 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of electroCore by 114.4% in the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock valued at $246,000 after purchasing an additional 19,599 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of electroCore by 857.9% during the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock valued at $1,083,000 after buying an additional 145,047 shares during the period. Finally, DRW Securities LLC purchased a new stake in shares of electroCore during the 4th quarter valued at $264,000. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

electroCore Company Profile

electroCore, Inc is a commercial-stage bioelectronic medicine company headquartered in Rockaway, New Jersey. The company specializes in the development and commercialization of non-invasive vagus nerve stimulation (nVNS) therapies designed to address a variety of neurological and inflammatory conditions. Established in 2006, electroCore has focused its efforts on translating neuromodulation science into a compact, patient-administered treatment device.

The company’s lead product, gammaCore®, is a handheld, battery-powered device that delivers nVNS through the skin to the cervical branch of the vagus nerve.