electroCore (NASDAQ:ECOR) CFO Joshua Lev Sells 6,667 Shares

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 6,667 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $9.00, for a total value of $60,003.00. Following the sale, the chief financial officer owned 84,889 shares in the company, valued at approximately $764,001. The trade was a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

electroCore Price Performance

NASDAQ ECOR traded up $0.49 on Friday, hitting $9.73. 346,987 shares of the company were exchanged, compared to its average volume of 80,721. The company’s 50 day moving average price is $6.54 and its 200-day moving average price is $6.07. The firm has a market capitalization of $80.76 million, a P/E ratio of -5.50 and a beta of 0.68. electroCore, Inc. has a twelve month low of $4.16 and a twelve month high of $10.27.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $9.01 million. As a group, equities analysts expect that electroCore, Inc. will post -1.48 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On electroCore

A number of hedge funds have recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC increased its holdings in electroCore by 7.4% in 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 last quarter. Two Sigma Investments LP increased 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 last quarter. International Assets Investment Management LLC increased its holdings in electroCore by 15.2% in the fourth quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock worth $398,000 after buying an additional 11,700 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in electroCore in the fourth quarter worth approximately $82,000. Finally, Jane Street Group LLC boosted its position 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 during the period. Institutional investors and hedge funds own 26.74% of the company’s stock.

About electroCore

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.