electroCore (NASDAQ:ECOR) CFO Joshua Lev Sells 3,000 Shares of 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 owned 91,556 shares in the company, valued at approximately $595,114. The trade was a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 business’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $5.97. The company has a market cap 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) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.59). The firm had revenue of $9.58 million for the quarter, compared to the consensus estimate of $9.01 million. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 44.08%. As a group, equities research analysts forecast that electroCore, Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On electroCore

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in shares of electroCore in the fourth quarter worth $82,000. Two Sigma Investments LP raised its position in shares of electroCore by 20.8% in 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. Cubist Systematic Strategies LLC purchased a new stake in shares of electroCore in the first quarter worth $153,000. WealthShield Partners LLC purchased a new stake in shares of electroCore in the first quarter worth $157,000. Finally, Jaffetilchin Investment Partners LLC raised its position in shares of electroCore by 7.4% in 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. Hedge funds and other institutional investors own 26.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ECOR shares. HC Wainwright dropped 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. Zacks Research upgraded electroCore from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings restated 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 investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.00.

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.