electroCore (NASDAQ:ECOR) CFO Joshua Lev Sells 3,000 Shares

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

electroCore Price Performance

ECOR stock opened at $9.47 on Wednesday. The business has a fifty day moving average price of $7.75 and a 200 day moving average price of $7.23. electroCore, Inc. has a fifty-two week low of $4.41 and a fifty-two week high of $10.95. The stock has a market capitalization of $85.42 million, a price-to-earnings ratio of -5.70 and a beta of 0.92.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.33) EPS for the quarter, topping 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%. On average, equities analysts expect that electroCore, Inc. will post -1.4 earnings per share for the current fiscal year.

Key electroCore News

Here are the key news stories impacting electroCore this week:

• Positive Sentiment: electroCore’s Truvaga® wellness device was named the Best Luxury Biohacking & Longevity Brand in the USA by Luxury Lifestyle Awards. The recognition could support consumer awareness and the company’s efforts to expand beyond its prescription-focused nVNS products. electroCore’s Truvaga Named Best Luxury Biohacking & Longevity Brand in the USA by Luxury Lifestyle Awards
• Neutral Sentiment: Reported short interest was zero shares as of August 25, so there is no indication that a buildup of short positions is driving the stock’s movement. Institutional investors own approximately 26.74% of the company, with several funds recently initiating or increasing positions.
• Negative Sentiment: The CFO’s sales represent the clearest near-term negative catalyst. Lev sold 12,000 shares at an average $10.22, 3,000 shares at $9.36, and 5,000 shares at $9.88. The repeated selling occurred near the stock’s recent highs and could weigh on sentiment. Joshua Lev Sells Shares of electroCore Stock
• Negative Sentiment: electroCore remains unprofitable, with analysts expecting approximately negative $1.40 in full-year EPS. Its latest quarterly loss was $0.33 per share, despite beating estimates, while revenue of $9.45 million was slightly below expectations. A “Hold” consensus and a reiterated “Sell” rating add to the cautious backdrop.

Analyst Upgrades and Downgrades

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

Institutional Trading of electroCore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its holdings in electroCore by 20.8% during 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 during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of electroCore in the 1st quarter valued at about $153,000. WealthShield Partners LLC bought a new position in shares of electroCore in the 1st quarter valued at about $157,000. Jane Street Group LLC grew its position in shares of electroCore by 114.4% during 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 period. Finally, DRW Securities LLC bought a new stake in shares of electroCore during the fourth quarter worth approximately $264,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

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.