electroCore (NASDAQ:ECOR) Shares Down 2% – What’s Next?

electroCore, Inc. (NASDAQ:ECOR) shares dropped 2% during trading on Thursday . The stock traded as low as $18.28 and last traded at $18.99. Approximately 168,401 shares were traded during trading, an increase of 71% from the average daily volume of 98,745 shares. The stock had previously closed at $19.37.

Analysts Set New Price Targets

Separately, HC Wainwright upped their price target on electroCore from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

electroCore Stock Down 7.0 %

The company’s fifty day moving average is $16.45 and its two-hundred day moving average is $11.43. The stock has a market cap of $117.68 million, a price-to-earnings ratio of -9.66 and a beta of 0.48.

Institutional Investors Weigh In On electroCore

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of electroCore during the fourth quarter worth $278,000. Marshall Wace LLP acquired a new position in shares of electroCore during the 4th quarter worth about $438,000. NewEdge Advisors LLC acquired a new position in shares of electroCore during the 4th quarter worth about $274,000. Renaissance Technologies LLC increased its holdings in shares of electroCore by 80.6% in the 4th quarter. Renaissance Technologies LLC now owns 131,786 shares of the company’s stock valued at $2,136,000 after acquiring an additional 58,800 shares during the last quarter. Finally, DnB Asset Management AS acquired a new stake in shares of electroCore during the 4th quarter worth about $180,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

electroCore Company Profile

electroCore, Inc, a commercial stage bioelectronic medicine and wellness company, provides non-invasive vagus nerve stimulation technology platform in the United States, the United Kingdom, and internationally. The company is developing gammaCore, a prescription only handheld device intended for regular or intermittent use for the acute treatment of pain associated with migraine and episodic cluster headache, as well as for the treatment of hemicrania continua and paroxysmal hemicrania.