electroCore (NASDAQ:ECOR) CFO Joshua Lev Sells 3,000 Shares

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 3,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $6.50, for a total value of $19,500.00. Following the completion of the transaction, the chief financial officer directly owned 91,556 shares in the company, valued at $595,114. This represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

electroCore Stock Performance

Shares of NASDAQ ECOR traded up $0.68 during trading on Friday, hitting $6.67. The company had a trading volume of 129,637 shares, compared to its average volume of 68,669. The company has a market cap of $55.36 million, a P/E ratio of -3.77 and a beta of 0.68. electroCore, Inc. has a 52 week low of $4.16 and a 52 week high of $8.64. The business’s 50-day moving average is $6.37 and its 200 day moving average is $5.97.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.59). The company had revenue of $9.58 million for the quarter, compared to analysts’ expectations 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, research analysts expect that electroCore, Inc. will post -1.48 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On electroCore

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in electroCore in the fourth quarter worth approximately $82,000. 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. Cubist Systematic Strategies LLC acquired a new position in electroCore during the first quarter worth $153,000. WealthShield Partners LLC acquired a new position in electroCore during the first quarter worth $157,000. Finally, Jaffetilchin Investment Partners LLC increased its position in 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 last quarter. 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.