electroCore (NASDAQ:ECOR) CFO Sells 5,000 Shares of Stock

Key Points

• CFO Joshua Lev sold 5,000 electroCore shares at an average price of $9.88, generating $49,400. The sale reduced his direct holdings by 5.56% to 84,889 shares.
• ECOR shares traded at $9.47, with the stock up from its 50-day and 200-day moving averages but still reporting a market cap of approximately $85.4 million. In its latest quarter, electroCore posted an adjusted loss of $0.33 per share, beating estimates, while revenue of $9.45 million was slightly below forecasts.
• Institutional investors own 26.74% of the company, while analyst sentiment remains mixed: one Buy, one Hold and one Sell rating produce a consensus Hold rating and an $18 price target.

electroCore, Inc. (NASDAQ:ECOR - Get Free Report) CFO Joshua Lev sold 5,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $9.88, for a total value of $49,400.00. Following the completion of the sale, the chief financial officer directly owned 84,889 shares in the company, valued at approximately $838,703.32. The trade was a 5.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

electroCore Price Performance

NASDAQ:ECOR traded down $0.18 during trading hours on Tuesday, reaching $9.47. 109,294 shares of the company traded hands, compared to its average volume of 88,973. The firm's 50-day moving average is $7.74 and its 200-day moving average is $7.21. The stock has a market cap of $85.42 million, a P/E ratio of -5.70 and a beta of 0.93. electroCore, Inc. has a 1-year low of $4.41 and a 1-year high of $10.95.

electroCore (NASDAQ:ECOR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share 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 during the quarter, compared to analysts' expectations of $9.49 million. As a group, research analysts predict that electroCore, Inc. will post -1.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ECOR. NewEdge Advisors LLC boosted its holdings in shares of electroCore by 857.9% in the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company's stock valued at $1,083,000 after purchasing an additional 145,047 shares during the last quarter. Tejara Capital Ltd acquired a new stake in shares of electroCore during the 4th quarter worth $450,000. DRW Securities LLC purchased a new position in shares of electroCore in the 4th quarter worth $264,000. WealthShield Partners LLC acquired a new position in electroCore in the first quarter valued at $157,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in electroCore during the first quarter valued at about $153,000. Institutional investors and hedge funds own 26.74% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of electroCore in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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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