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 that occurred on Monday, August 24th. The stock was sold at an average price of $9.88, for a total transaction of $49,400.00. Following the sale, the chief financial officer directly owned 84,889 shares of the company’s stock, valued at approximately $838,703.32. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

electroCore Price Performance

ECOR stock traded down $0.18 during midday trading on Tuesday, reaching $9.47. 109,294 shares of the company’s stock traded hands, compared to its average volume of 88,973. The business has a 50-day moving average price of $7.74 and a two-hundred day moving average price of $7.21. electroCore, Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $10.95. The company has a market capitalization of $85.42 million, a P/E ratio of -5.70 and a beta of 0.93.

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 business had revenue of $9.45 million for the quarter, compared to analyst estimates of $9.49 million. As a group, research analysts forecast that electroCore, Inc. will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On electroCore

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in shares of electroCore by 857.9% during 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. Tejara Capital Ltd acquired a new stake in shares of electroCore during the fourth quarter worth approximately $450,000. DRW Securities LLC bought a new stake in shares of electroCore in the fourth quarter worth $264,000. WealthShield Partners LLC acquired a new stake in electroCore in the first quarter valued at $157,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in electroCore in the first quarter valued at $153,000. 26.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

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.