DnB Asset Management AS Makes New $180,000 Investment in electroCore, Inc. (NASDAQ:ECOR)

DnB Asset Management AS acquired a new stake in electroCore, Inc. (NASDAQ:ECOR) during the 4th quarter, Holdings Channel reports. The firm acquired 11,112 shares of the company’s stock, valued at approximately $180,000.

A number of other large investors also recently added to or reduced their stakes in ECOR. JPMorgan Chase & Co. boosted 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 valued at $61,000 after buying an additional 3,750 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of electroCore during the 3rd quarter worth about $255,000. Finally, Geode Capital Management LLC boosted its position in shares of electroCore by 10.3% during the third quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock valued at $458,000 after buying an additional 5,951 shares during the period. 26.74% of the stock is owned by hedge funds and other institutional investors.

electroCore Stock Performance

ECOR stock opened at $6.62 on Thursday. electroCore, Inc. has a one year low of $5.32 and a one year high of $19.49. The firm has a market cap of $47.62 million, a price-to-earnings ratio of -3.62 and a beta of 0.24. The firm has a 50-day simple moving average of $13.51 and a two-hundred day simple moving average of $12.42.

Wall Street Analyst Weigh In

ECOR has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH cut their price target on shares of electroCore from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of electroCore in a research report on Thursday, March 13th.

Insider Buying and Selling

In other news, Director Thomas J. Errico purchased 6,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were acquired at an average cost of $8.10 per share, with a total value of $48,600.00. Following the completion of the acquisition, the director now owns 256,401 shares of the company’s stock, valued at $2,076,848.10. This trade 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 the SEC website. 19.70% of the stock is currently owned by company insiders.

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.