Thomas Errico Acquires 9,992 Shares of electroCore (NASDAQ:ECOR) Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas Errico bought 9,992 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was bought at an average price of $5.99 per share, with a total value of $59,852.08. Following the completion of the purchase, the director owned 360,071 shares of the company’s stock, valued at $2,156,825.29. This trade represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

electroCore Stock Up 3.7%

Shares of ECOR stock opened at $9.24 on Thursday. The business has a 50 day moving average of $6.49 and a two-hundred day moving average of $6.05. electroCore, Inc. has a 52 week low of $4.16 and a 52 week high of $9.68. The company has a market cap of $76.69 million, a P/E ratio of -5.22 and a beta of 0.68.

electroCore (NASDAQ:ECOR) last issued its earnings results on Wednesday, May 6th. The company reported ($0.59) 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 company had revenue of $9.58 million during the quarter, compared to the consensus estimate of $9.01 million. Analysts expect that electroCore, Inc. will post -1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On electroCore

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jaffetilchin Investment Partners LLC boosted its position in shares of electroCore by 7.4% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock worth $235,000 after buying an additional 3,600 shares during the period. Two Sigma Investments LP raised its holdings in electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after purchasing an additional 4,231 shares in the last quarter. International Assets Investment Management LLC raised its holdings in electroCore by 15.2% during the fourth quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock worth $398,000 after purchasing an additional 11,700 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in electroCore during the fourth quarter worth approximately $82,000. Finally, Jane Street Group LLC raised its holdings in electroCore by 114.4% during the first quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after purchasing an additional 19,599 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ECOR has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a research report on Friday, March 27th. Zacks Research upgraded electroCore from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, upgraded electroCore to a “strong-buy” rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.00.

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.