Insider Selling: electroCore (NASDAQ:ECOR) CFO Sells $28,080.00 in Stock

electroCore, Inc. (NASDAQ:ECOR) CFO Joshua Lev sold 3,000 shares of electroCore stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $9.36, for a total value of $28,080.00. Following the transaction, the chief financial officer owned 84,889 shares in the company, valued at $794,561.04. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

electroCore Stock Down 6.2%

electroCore stock opened at $9.71 on Friday. The stock has a market capitalization of $87.58 million, a PE ratio of -5.85 and a beta of 0.92. electroCore, Inc. has a twelve month low of $4.41 and a twelve month high of $10.95. The company has a 50 day moving average of $7.81 and a 200-day moving average of $7.30.

electroCore (NASDAQ:ECOR) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.33) 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%. Equities analysts anticipate that electroCore, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ECOR. NewEdge Advisors LLC increased its position 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 acquiring an additional 145,047 shares during the period. Tejara Capital Ltd bought a new position in electroCore in the fourth quarter valued at approximately $450,000. DRW Securities LLC acquired a new position in shares of electroCore during the 4th quarter worth $264,000. WealthShield Partners LLC bought a new position in shares of electroCore in the first quarter worth about $157,000. Finally, Cubist Systematic Strategies LLC acquired a new position in electroCore during the 1st quarter worth approximately $153,000. Institutional investors own 26.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, electroCore has a consensus 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.