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

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 6,667 shares of electroCore stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $60,003.00. Following the sale, the chief financial officer owned 84,889 shares in the company, valued at approximately $764,001. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

electroCore Price Performance

Shares of NASDAQ ECOR traded up $0.49 during midday trading on Friday, reaching $9.73. 346,987 shares of the company traded hands, compared to its average volume of 80,721. electroCore, Inc. has a 52 week low of $4.16 and a 52 week high of $10.27. The stock has a 50-day moving average price of $6.54 and a 200 day moving average price of $6.07. The company has a market cap of $80.76 million, a price-to-earnings ratio of -5.50 and a beta of 0.68.

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

Analyst Upgrades and Downgrades

ECOR has been the topic of several research reports. Zacks Research upgraded shares of electroCore from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a research report on Friday, March 27th. Finally, upgraded shares of electroCore to a “strong-buy” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Trading of electroCore

Several institutional investors and hedge funds have recently bought and sold shares of ECOR. NewEdge Advisors LLC raised its holdings in electroCore by 857.9% during the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after buying an additional 145,047 shares during the period. Tejara Capital Ltd acquired a new stake in electroCore during the 4th quarter worth about $450,000. DRW Securities LLC acquired a new stake in electroCore during the 4th quarter worth about $264,000. WealthShield Partners LLC acquired a new stake in electroCore during the 1st quarter worth about $157,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in electroCore during the 1st quarter worth about $153,000. 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.