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

electroCore, Inc. (NASDAQ:ECOR) Director Thomas J. Errico purchased 6,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $8.10 per share, for a total transaction of $48,600.00. Following the completion of the acquisition, the director now owns 256,401 shares in the company, valued at $2,076,848.10. This represents a 2.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

electroCore Price Performance

Shares of NASDAQ:ECOR traded down $0.30 on Monday, hitting $8.26. 435,884 shares of the company’s stock were exchanged, compared to its average volume of 66,455. The business’s 50 day simple moving average is $15.64 and its two-hundred day simple moving average is $12.37. The stock has a market capitalization of $54.98 million, a price-to-earnings ratio of -4.51 and a beta of 0.24. electroCore, Inc. has a 12 month low of $5.32 and a 12 month high of $19.49.

Institutional Investors Weigh In On electroCore

Several large investors have recently modified their holdings of ECOR. Geode Capital Management LLC raised its position in shares of electroCore by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock worth $458,000 after acquiring an additional 5,951 shares in the last quarter. HighTower Advisors LLC purchased a new position in electroCore in the third quarter worth $255,000. Jane Street Group LLC purchased a new stake in shares of electroCore during the 4th quarter valued at $278,000. JPMorgan Chase & Co. boosted its position in shares of electroCore by 31,250.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company’s stock worth $61,000 after purchasing an additional 3,750 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in electroCore during the 4th quarter worth $438,000. Institutional investors own 26.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ECOR shares. LADENBURG THALM/SH SH decreased their target price on electroCore from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of electroCore in a research note on Thursday.

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.