electroCore (NASDAQ:ECOR) Shares Down 2% – Time to Sell?

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

Analyst Ratings Changes

Separately, HC Wainwright boosted their price target on shares of electroCore from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th.

electroCore Price Performance

The business has a 50 day simple moving average of $16.45 and a 200 day simple moving average of $11.43. The company has a market capitalization of $117.68 million, a price-to-earnings ratio of -9.66 and a beta of 0.48.

Hedge Funds Weigh In On electroCore

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in electroCore by 31,250.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company’s stock worth $61,000 after purchasing an additional 3,750 shares during the period. DnB Asset Management AS acquired a new position in shares of electroCore in the fourth quarter valued at approximately $180,000. NewEdge Advisors LLC purchased a new stake in electroCore during the 4th quarter worth approximately $274,000. Jane Street Group LLC acquired a new stake in electroCore during the 4th quarter worth approximately $278,000. Finally, Marshall Wace LLP acquired a new stake in electroCore during the 4th quarter worth approximately $438,000. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.