Joshua Lev Sells 3,000 Shares of electroCore (NASDAQ:ECOR) Stock

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $6.50, for a total value of $19,500.00. Following the completion of the transaction, the chief financial officer directly owned 91,556 shares in the company, valued at $595,114. The trade was a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

electroCore Trading Up 11.4%

electroCore stock opened at $6.67 on Friday. electroCore, Inc. has a 12 month low of $4.16 and a 12 month high of $8.64. The stock’s 50 day moving average is $6.37 and its 200-day moving average is $5.97. The company has a market capitalization of $55.36 million, a price-to-earnings ratio of -3.77 and a beta of 0.68.

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

Analyst Ratings Changes

ECOR has been the topic of several research reports. Zacks Research raised electroCore from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a research report on Friday, March 27th. HC Wainwright decreased their target price on electroCore from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, raised 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Institutional Investors Weigh In On electroCore

A number of large investors have recently added to or reduced their stakes in the stock. Jaffetilchin Investment Partners LLC grew its position in electroCore by 7.4% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock worth $235,000 after buying an additional 3,600 shares in the last quarter. Two Sigma Investments LP grew its position 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 buying an additional 4,231 shares in the last quarter. International Assets Investment Management LLC grew its position in electroCore by 15.2% during the fourth 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. FNY Investment Advisers LLC acquired a new stake in shares of electroCore in the 4th quarter valued at $82,000. Finally, Jane Street Group LLC boosted its holdings in shares of electroCore by 114.4% in the 1st 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. 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.