electroCore (NASDAQ:ECOR) Director Acquires $59,852.08 in Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas Errico acquired 9,992 shares of electroCore stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $5.99 per share, for a total transaction of $59,852.08. Following the completion of the purchase, the director directly owned 360,071 shares of the company’s stock, valued at approximately $2,156,825.29. The trade was a 2.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

electroCore Stock Performance

Shares of NASDAQ:ECOR opened at $6.67 on Tuesday. The stock’s 50-day moving average price is $6.38 and its 200-day moving average price is $5.99. electroCore, Inc. has a 12-month low of $4.16 and a 12-month high of $8.64. The stock has a market capitalization of $55.36 million, a P/E ratio of -3.77 and a beta of 0.68.

electroCore (NASDAQ:ECOR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.59). electroCore had a negative return on equity of 1,956.38% and a negative net margin of 44.08%.The firm had revenue of $9.58 million for the quarter, compared to analysts’ expectations of $9.01 million. As a group, research analysts predict that electroCore, Inc. will post -1.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ECOR. Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a report on Friday, March 27th. upgraded shares of electroCore to a “strong-buy” rating in a report on Tuesday, February 3rd. Zacks Research upgraded shares of electroCore from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Finally, HC Wainwright dropped their target price on shares of electroCore from $25.00 to $18.00 and set a “buy” rating for the company in a report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

Institutional Trading of electroCore

Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in shares of electroCore during the fourth quarter worth about $82,000. Cubist Systematic Strategies LLC purchased a new stake in shares of electroCore during the first quarter worth about $153,000. Two Sigma Investments LP lifted its holdings in electroCore by 20.8% in the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after buying an additional 4,231 shares during the period. WealthShield Partners LLC bought a new stake in electroCore during the 1st quarter valued at approximately $157,000. Finally, Jane Street Group LLC boosted its position in electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock valued at $246,000 after acquiring an additional 19,599 shares in the last quarter. 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.