Joshua Lev Sells 12,000 Shares of electroCore (NASDAQ:ECOR) Stock

Key Points

• CFO Joshua Lev sold 12,000 electroCore shares at an average price of $10.22, generating $122,640 and reducing his direct ownership by 12.39% to 84,889 shares.
• electroCore shares fell 1.9% to $9.47, though the stock remained near its 12-month high of $10.95. The company reported a quarterly loss of $0.33 per share, better than the $0.42 consensus estimate, on $9.45 million in revenue.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating, resulting in an overall Hold consensus and an average price target of $18. Institutional investors own 26.74% of the company.

electroCore, Inc. (NASDAQ:ECOR - Get Free Report) CFO Joshua Lev sold 12,000 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $10.22, for a total value of $122,640.00. Following the transaction, the chief financial officer directly owned 84,889 shares in the company, valued at $867,565.58. The trade was a 12.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

electroCore Trading Down 1.9%

NASDAQ ECOR traded down $0.18 during mid-day trading on Tuesday, hitting $9.47. The company's stock had a trading volume of 109,294 shares, compared to its average volume of 88,973. The company's 50 day simple moving average is $7.74 and its 200 day simple moving average is $7.21. electroCore, Inc. has a twelve month low of $4.41 and a twelve month high of $10.95. The firm has a market capitalization of $85.42 million, a price-to-earnings ratio of -5.70 and a beta of 0.93.

electroCore (NASDAQ:ECOR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. The firm had revenue of $9.45 million for the quarter, compared to the consensus estimate of $9.49 million. As a group, research analysts forecast that electroCore, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $18.00.

Institutional Trading of electroCore

Several institutional investors have recently made changes to their positions in ECOR. Two Sigma Investments LP lifted its position in shares of electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company's stock valued at $122,000 after purchasing an additional 4,231 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of electroCore during the 1st quarter worth approximately $153,000. WealthShield Partners LLC bought a new position in shares of electroCore during the 1st quarter worth approximately $157,000. Jane Street Group LLC boosted its stake 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, DRW Securities LLC purchased a new position in shares of electroCore in the 4th quarter worth approximately $264,000. Institutional investors own 26.74% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source