Thomas Errico Acquires 5,000 Shares of electroCore (NASDAQ:ECOR) Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas Errico bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $9.85 per share, with a total value of $49,250.00. Following the transaction, the director owned 343,332 shares in the company, valued at approximately $3,381,820.20. This represents a 1.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

electroCore Stock Performance

NASDAQ ECOR opened at $10.27 on Wednesday. The firm has a market capitalization of $92.64 million, a price-to-earnings ratio of -6.19 and a beta of 0.93. electroCore, Inc. has a one year low of $4.41 and a one year high of $10.68. The company’s 50 day moving average price is $7.70 and its 200 day moving average price is $7.10.

electroCore (NASDAQ:ECOR) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.45 million during the quarter, compared to the consensus estimate of $9.49 million. Sell-side analysts forecast that electroCore, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Institutional Trading of electroCore

A number of hedge funds have recently made changes to their positions in ECOR. Cubist Systematic Strategies LLC acquired a new position in shares of electroCore during the first quarter worth $153,000. NewEdge Advisors LLC grew its holdings in electroCore by 857.9% during the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock valued at $1,083,000 after purchasing an additional 145,047 shares in the last quarter. Jane Street Group LLC increased its stake in electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after buying an additional 19,599 shares during the period. Two Sigma Investments LP lifted its holdings in electroCore by 20.8% in the 3rd 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 in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in electroCore by 15.2% in the 4th quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock worth $398,000 after buying an additional 11,700 shares in the last quarter. Hedge funds and other institutional investors own 26.74% of the company’s stock.

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.