electroCore (NASDAQ:ECOR) Director Acquires $59,852.08 in Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas Errico purchased 9,992 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of $5.99 per share, with a total value of $59,852.08. Following the completion of the purchase, the director directly owned 360,071 shares in the company, valued at $2,156,825.29. This trade represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

electroCore Price Performance

ECOR stock opened at $9.24 on Friday. electroCore, Inc. has a 1-year low of $4.16 and a 1-year high of $9.68. The company has a market capitalization of $76.69 million, a price-to-earnings ratio of -5.22 and a beta of 0.68. The business has a 50 day simple moving average of $6.54 and a two-hundred day simple moving average of $6.07.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share for the quarter, hitting 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 business had revenue of $9.58 million during the quarter, compared to the consensus estimate of $9.01 million. Sell-side analysts anticipate that electroCore, Inc. will post -1.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ECOR has been the subject of several recent analyst reports. Zacks Research upgraded electroCore from a “strong sell” rating to a “hold” rating in a research note 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 electroCore to a “strong-buy” rating in a research report on Tuesday, February 3rd. One research 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 MarketBeat, electroCore presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in electroCore during the fourth quarter worth $82,000. Cubist Systematic Strategies LLC purchased a new position in electroCore during the first quarter worth $153,000. Two Sigma Investments LP boosted its stake 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 during the period. WealthShield Partners LLC purchased a new position in electroCore during the first quarter worth $157,000. Finally, Jane Street Group LLC boosted its stake in electroCore by 114.4% during the first 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. 26.74% of the stock is owned by hedge funds and other institutional investors.

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.