electroCore (NASDAQ:ECOR) CFO Joshua Lev Sells 12,000 Shares of Stock

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $10.22, for a total value of $122,640.00. Following the completion of the transaction, the chief financial officer owned 84,889 shares of the company’s stock, valued at $867,565.58. This represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

electroCore Stock Performance

NASDAQ ECOR opened at $9.47 on Wednesday. The stock has a market cap of $85.42 million, a price-to-earnings ratio of -5.70 and a beta of 0.92. The business has a 50 day simple moving average of $7.75 and a 200 day simple moving average of $7.23. electroCore, Inc. has a 52-week low of $4.41 and a 52-week high of $10.95.

electroCore (NASDAQ:ECOR) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $9.45 million for the quarter, compared to analyst estimates of $9.49 million. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. On average, analysts predict that electroCore, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, electroCore currently has an average rating of “Hold” and an average target price of $18.00.

Hedge Funds Weigh In On electroCore

Large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of electroCore in the first quarter valued at approximately $153,000. Two Sigma Investments LP boosted its holdings in electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after purchasing an additional 4,231 shares during the last quarter. WealthShield Partners LLC acquired a new position in electroCore during the first quarter worth $157,000. Jane Street Group LLC grew its position in electroCore by 114.4% in the first quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock valued at $246,000 after purchasing an additional 19,599 shares in the last quarter. Finally, DRW Securities LLC bought a new position in electroCore in the fourth quarter valued at $264,000. Institutional investors and hedge funds 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.