electroCore (NASDAQ:ECOR) Director Purchases $49,250.00 in Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas Errico acquired 5,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $9.85 per share, for a total transaction of $49,250.00. Following the completion of the purchase, the director owned 343,332 shares of the company’s stock, valued at approximately $3,381,820.20. This represents a 1.48% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

electroCore Stock Up 5.3%

Shares of NASDAQ:ECOR opened at $10.81 on Thursday. The firm has a 50 day moving average of $7.72 and a 200 day moving average of $7.13. The company has a market capitalization of $97.51 million, a price-to-earnings ratio of -6.51 and a beta of 0.92. electroCore, Inc. has a 52 week low of $4.41 and a 52 week high of $10.93.

electroCore (NASDAQ:ECOR) last announced its earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. The business had revenue of $9.45 million for the quarter, compared to analysts’ expectations 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, sell-side analysts expect that electroCore, Inc. will post -1.4 EPS for the current year.

Institutional Trading of electroCore

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP boosted its position in shares of electroCore by 20.8% in the 3rd quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after purchasing an additional 4,231 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in electroCore during the 1st quarter worth $153,000. WealthShield Partners LLC acquired a new position in electroCore during the 1st quarter valued at about $157,000. Jane Street Group LLC increased its position in electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock valued at $246,000 after buying an additional 19,599 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in electroCore in the fourth quarter valued at about $264,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

Analysts Set New Price Targets

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

electroCore Company Profile

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.