Insider Buying: electroCore, Inc. (NASDAQ:ECOR) Director Purchases 6,000 Shares of Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas J. Errico bought 6,000 shares of electroCore stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $8.10 per share, with a total value of $48,600.00. Following the acquisition, the director now directly owns 256,401 shares of the company’s stock, valued at approximately $2,076,848.10. This represents a 2.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

electroCore Trading Down 4.4 %

Shares of NASDAQ:ECOR opened at $8.01 on Thursday. electroCore, Inc. has a 1 year low of $5.32 and a 1 year high of $19.49. The business has a fifty day simple moving average of $15.29 and a 200 day simple moving average of $12.35. The firm has a market cap of $57.62 million, a price-to-earnings ratio of -4.38 and a beta of 0.24.

Institutional Trading of electroCore

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ECOR shares. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of electroCore in a report on Thursday, March 13th. LADENBURG THALM/SH SH reduced their target price on electroCore from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, March 13th.

About electroCore

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.