Insider Buying: electroCore, Inc. (NASDAQ:ECOR) Director Purchases $48,600.00 in Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas J. Errico bought 6,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average price of $8.10 per share, for a total transaction of $48,600.00. Following the completion of the transaction, the director now owns 256,401 shares in the company, valued at $2,076,848.10. This trade represents a 2.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

electroCore Stock Performance

Shares of NASDAQ ECOR opened at $8.01 on Thursday. The stock has a fifty day moving average price of $15.29 and a two-hundred day moving average price of $12.35. The firm has a market cap of $57.62 million, a P/E ratio of -4.38 and a beta of 0.24. electroCore, Inc. has a 1 year low of $5.32 and a 1 year high of $19.49.

Wall Street Analyst Weigh In

ECOR has been the topic of several analyst reports. LADENBURG THALM/SH SH lowered their target price on electroCore from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of electroCore in a research report on Thursday, March 13th.

Hedge Funds Weigh In On electroCore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of electroCore by 80.6% during the 4th quarter. Renaissance Technologies LLC now owns 131,786 shares of the company’s stock worth $2,136,000 after acquiring an additional 58,800 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of electroCore by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock worth $458,000 after acquiring an additional 5,951 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of electroCore during the 3rd quarter worth $255,000. Marshall Wace LLP bought a new stake in shares of electroCore during the 4th quarter worth $438,000. Finally, Jane Street Group LLC bought a new stake in shares of electroCore during the 4th quarter worth $278,000. 26.74% of the stock is owned by institutional investors.

electroCore Company Profile

electroCore, Inc, a commercial stage bioelectronic medicine and wellness company, provides non-invasive vagus nerve stimulation technology platform in the United States, the United Kingdom, and internationally. The company is developing gammaCore, a prescription only handheld device intended for regular or intermittent use for the acute treatment of pain associated with migraine and episodic cluster headache, as well as for the treatment of hemicrania continua and paroxysmal hemicrania.