Insider Selling: electroCore (NASDAQ:ECOR) CFO Sells $122,640.00 in Stock

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 12,000 shares of the stock in a transaction 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 sale, the chief financial officer owned 84,889 shares in the company, valued at approximately $867,565.58. The trade was a 12.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

electroCore Price Performance

ECOR opened at $9.71 on Friday. electroCore, Inc. has a 12 month low of $4.41 and a 12 month high of $10.95. The stock has a market capitalization of $87.58 million, a price-to-earnings ratio of -5.85 and a beta of 0.92. The business has a fifty day moving average price of $7.81 and a 200 day moving average price of $7.30.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of electroCore

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tejara Capital Ltd acquired a new position in shares of electroCore during the 4th quarter worth about $450,000. International Assets Investment Management LLC increased its holdings in shares of electroCore by 15.2% in the 4th quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock valued at $398,000 after acquiring an additional 11,700 shares during the last quarter. Jane Street Group LLC raised its position in shares of 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 acquiring an additional 19,599 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of 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 acquiring an additional 145,047 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in electroCore during the fourth quarter worth approximately $264,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

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.