electroCore (NASDAQ:ECOR) Director Thomas Errico Purchases 5,000 Shares of Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas Errico purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $9.85 per share, with a total value of $49,250.00. Following the completion of the acquisition, the director owned 343,332 shares in the company, valued at approximately $3,381,820.20. This trade represents a 1.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

electroCore Price Performance

ECOR opened at $10.25 on Tuesday. The firm has a market capitalization of $92.41 million, a P/E ratio of -6.17 and a beta of 0.92. electroCore, Inc. has a one year low of $4.41 and a one year high of $10.68. The company has a fifty day moving average price of $7.69 and a 200-day moving average price of $7.08.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tejara Capital Ltd bought a new position in electroCore in the fourth quarter valued at $450,000. International Assets Investment Management LLC lifted its stake 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 purchasing an additional 11,700 shares during the last quarter. NewEdge Advisors LLC lifted its stake in electroCore by 857.9% during the first quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after purchasing an additional 145,047 shares during the last quarter. DRW Securities LLC purchased a new position in shares of electroCore in the 4th quarter worth about $264,000. 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 worth $246,000 after purchasing an additional 19,599 shares in the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

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.