electroCore (NASDAQ:ECOR) Director Sells $544,000.00 in Stock

electroCore, Inc. (NASDAQ:ECOR) Director Daniel Goldberger sold 80,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $6.80, for a total transaction of $544,000.00. Following the completion of the transaction, the director owned 211,471 shares of the company’s stock, valued at approximately $1,438,002.80. This trade represents a 27.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

electroCore Price Performance

ECOR stock opened at $10.25 on Monday. electroCore, Inc. has a 52-week low of $4.16 and a 52-week high of $10.45. The firm has a market cap of $85.08 million, a P/E ratio of -5.79 and a beta of 0.83. The company’s 50-day simple moving average is $7.32 and its 200-day simple moving average is $6.41.

electroCore (NASDAQ:ECOR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share for the quarter, meeting the consensus estimate of ($0.59). The firm had revenue of $9.58 million during the quarter, compared to analyst estimates of $9.01 million. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 44.08%. On average, analysts anticipate that electroCore, Inc. will post -1.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research raised electroCore from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, electroCore has a consensus rating of “Hold” and a consensus target price of $18.00.

Institutional Investors Weigh In On electroCore

Institutional investors have recently bought and sold shares of the company. Tejara Capital Ltd acquired a new position in shares of electroCore during the fourth quarter valued at approximately $450,000. NewEdge Advisors LLC boosted its stake in shares of electroCore by 857.9% in the first quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after acquiring an additional 145,047 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of electroCore during the fourth quarter worth approximately $264,000. Jane Street Group LLC increased its position in shares of 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. Finally, Cubist Systematic Strategies LLC acquired a new position in electroCore in the 1st quarter valued at $153,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

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.