electroCore (NASDAQ:ECOR) CFO Sells $60,003.00 in Stock

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

electroCore Stock Performance

ECOR stock opened at $9.76 on Monday. The firm has a 50 day moving average price of $6.60 and a 200-day moving average price of $6.09. electroCore, Inc. has a 52-week low of $4.16 and a 52-week high of $10.27. The firm has a market capitalization of $81.01 million, a price-to-earnings ratio of -5.51 and a beta of 0.83.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share for the quarter, hitting the consensus estimate of ($0.59). The company had revenue of $9.58 million for the quarter, compared to the consensus estimate of $9.01 million. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 44.08%. As a group, sell-side analysts forecast that electroCore, Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Trading of electroCore

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its holdings in shares of electroCore by 857.9% in the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after purchasing an additional 145,047 shares in the last quarter. Tejara Capital Ltd bought a new position in shares of electroCore during the fourth quarter valued at $450,000. International Assets Investment Management LLC lifted its holdings in shares of electroCore by 15.2% during the fourth quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock valued at $398,000 after purchasing an additional 11,700 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of electroCore during the fourth quarter valued at $264,000. Finally, 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 valued at $235,000 after buying an additional 3,600 shares during the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ECOR has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a report on Friday, March 27th. upgraded shares of electroCore to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research upgraded shares of electroCore from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.