electroCore (NASDAQ:ECOR) Director Daniel Goldberger Sells 16,072 Shares

Key Points

• Director Daniel Goldberger sold 16,072 shares on April 10 at an average price of $6.02 for a total of $96,753, reducing his stake by 5.23% to 291,471 shares; the sale was disclosed in an SEC filing and was made to cover tax withholding on vested equity awards.
• electroCore's stock recently traded at $6.55 with a market cap of $52.95 million, and the company posted quarterly EPS of ($0.34) on $9.24 million revenue (beating estimates by $0.01) but remains unprofitable with a negative net margin of 43.6%; analysts have a consensus "Hold" rating and a $18 target while expecting about -1.49 EPS for the year.

electroCore, Inc. (NASDAQ:ECOR - Get Free Report) Director Daniel Goldberger sold 16,072 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $6.02, for a total transaction of $96,753.44. Following the transaction, the director directly owned 291,471 shares of the company's stock, valued at $1,754,655.42. This trade represents a 5.23% decrease in their position. The sale 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 Price Performance

ECOR stock traded up $0.27 on Tuesday, hitting $6.55. 50,589 shares of the company were exchanged, compared to its average volume of 73,205. electroCore, Inc. has a twelve month low of $4.16 and a twelve month high of $8.64. The business's fifty day moving average is $6.40 and its two-hundred day moving average is $5.72. The stock has a market capitalization of $52.95 million, a price-to-earnings ratio of -3.97 and a beta of 0.59.

electroCore (NASDAQ:ECOR - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. electroCore had a negative net margin of 43.60% and a negative return on equity of 1,956.38%. The firm had revenue of $9.24 million during the quarter, compared to analyst estimates of $9.09 million. Equities research analysts expect that electroCore, Inc. will post -1.49 earnings per share for the current year.

Institutional Investors Weigh In On electroCore

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in electroCore during the 4th quarter valued at $82,000. Cubist Systematic Strategies LLC bought a new position in shares of electroCore in the 1st quarter worth about $153,000. Two Sigma Investments LP lifted 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 buying an additional 4,231 shares during the last quarter. Jane Street Group LLC lifted its position 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 buying an additional 19,599 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its holdings in shares of electroCore by 7.4% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company's stock worth $235,000 after acquiring an additional 3,600 shares during the period. 26.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ECOR has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of electroCore in a research report on Friday, March 27th. raised shares of electroCore to a "strong-buy" rating in a research report on Tuesday, February 3rd. Zacks Research raised shares of electroCore from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Finally, HC Wainwright dropped their price objective on shares of electroCore from $25.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, January 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, electroCore has an average rating of "Hold" and a consensus 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.

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