electroCore (NASDAQ:ECOR) CFO Joshua Lev Sells 5,000 Shares of Stock

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

electroCore Stock Down 1.9%

electroCore stock opened at $9.47 on Wednesday. The firm has a market cap of $85.42 million, a price-to-earnings ratio of -5.70 and a beta of 0.92. electroCore, Inc. has a 52 week low of $4.41 and a 52 week high of $10.95. The business’s 50-day moving average price is $7.75 and its 200 day moving average price is $7.23.

electroCore (NASDAQ:ECOR) last posted its earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. The firm had revenue of $9.45 million during the quarter, compared to analyst estimates of $9.49 million. Equities analysts expect that electroCore, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a research report on Wednesday, June 24th. One equities 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 stock. According to data from MarketBeat.com, electroCore has an average rating of “Hold” and an average target price of $18.00.

Institutional Investors Weigh In On electroCore

A number of institutional investors have recently added to or reduced their stakes in ECOR. Cubist Systematic Strategies LLC purchased a new stake in electroCore in the 1st quarter worth $153,000. Two Sigma Investments LP lifted 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 valued at $122,000 after purchasing an additional 4,231 shares in the last quarter. WealthShield Partners LLC acquired a new stake in shares of electroCore in the first quarter valued at about $157,000. Jane Street Group LLC grew its position in shares of electroCore by 114.4% in the first 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 period. Finally, DRW Securities LLC purchased a new stake in shares of electroCore during the fourth quarter worth about $264,000. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.