electroCore Inc. (ECOR) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

Per the Roarable RQD rating, ECOR scores 36 out of 100 with a letter grade of D- and a verdict label of "Roarable Sell — Vulnerable Balance Sheet & Flow." The five pillars are:

• Fundamental Cash Engine: 7 / 20. Per the Roarable RQD rating, this pillar reflects ROIC of -35% and an FCF yield of -11.29%. For an investor, this indicates the business is not currently generating returns on invested capital or free cash flow, which removes the cash-based support a valuation would typically rest on.
• Whale 13F Flow: 7 / 20. Per the Roarable RQD rating, this pillar covers institutional accumulation and options positioning. The holder detail needed to evaluate it is not included in the source data, so the score cannot be traced to specific filings.
• Insider Conviction: 3 / 20. Per the Roarable RQD rating, this pillar covers SEC Form 4 and Congressional PTR cluster flow. This is the second-weakest pillar and signals limited observable insider conviction behind the stock.
• Macro Regime Fit: 8 / 20. Per the Roarable RQD rating, beta is 1.0 with sector sensitivity noted. The stock's price movement is therefore expected to track the broader market rather than offer a defensive or uncorrelated profile.
• Forensic Balance Sheet: 11 / 20. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 0.5. This is the strongest pillar, but the Piotroski reading is mid-range and does not indicate a clean balance sheet.

Taken together, the score reflects a company with negative cash generation and returns, weak observable insider conviction, and a balance sheet that is serviceable but not strong. The verdict implies that upside would have to come from a change in operating trajectory rather than from current fundamentals. A prospective investor would weigh the 52-week range ($4.41 - $12.7) and the current price of $8.11 against these pillar scores when deciding whether the risk profile fits their own objectives. This is educational analysis, not personalized financial advice.

electroCore Inc. (ECOR) is a NASDAQ-listed issuer in the Health Care sector, within the Biotechnology: Electromedical & Electrotherapeutic Apparatus industry. Per the company profile, the market capitalization is $0.1B. Per the SEC financials, the company reported FY 2025 revenue of $32.0M, up from $25.2M in FY 2024 and $16.0M in FY 2023. The source data does not detail its products, customers, or specific revenue model.

Per the SEC financials, the company has reported operating losses in each period shown, with FY 2025 operating income of $-13.2M against revenue of $32.0M. Per the market data, the gross margin is 86.8%, the operating margin is -41.1%, and the net margin is -43.6%. Per the Roarable RQD rating, ROIC is -35%, the Altman Z-Score is 2.5, and the Piotroski F-Score is 4/9. Per the same rating, Debt/Equity is 0.5, which together with the reported cash balance of $7.0M describes a balance sheet that is serviceable but carries ongoing cash burn.

Per the recent news wire, the catalysts are largely coverage and corporate events:

• A scheduled announcement of third-quarter financial results for the period ending September 30, 2026, on Wednesday, November 4, 2026 (per the Yahoo Finance headline).
• A headline reporting that across two studies, chemo-related nerve pain scores fell about 40% in Quell's active treatment group (per the Stock Titan headline).
• A headline reporting an FDA 510(k) filing for the Quell device targeting a condition the headline truncates (per the GuruFocus headline).

All six news items are tagged YELLOW with a MARKET WIRE impact label. Three items are general market or estimates coverage without specific new fundamental content. The Butterfly Supply-Chain Graph reports no proprietary signals and no supply-chain links.

Risk watch items: the cash burn shown in the financials, the Piotroski F-Score of 4/9, and the reliance on a single device program (Quell) referenced in the news. Per the source, the news does not provide detail on the clinical or regulatory outcome of the 510(k) filing.

Per the Butterfly Supply-Chain Graph, the supply chain is recorded as NONE, with no butterfly links and no proprietary signals. The source data therefore does not identify upstream suppliers, downstream customers, or sector correlations. A prospective investor should note that the absence of mapped links means the second-order effects of device regulation, reimbursement, or component supply cannot be traced from the provided data. The watch point is the 510(k) and Quell program outcome referenced in the news, since a regulatory or commercial result there would be the most likely first-order event with ripple potential.

• What are the company's specific products, customers, and reimbursement pathways beyond the Quell device referenced in the news?
• What is the outcome and timeline of the FDA 510(k) filing, and what commercial impact is expected?
• What are the EPS, P/E, and EV/EBITDA figures, given that the market data and financials leave these unreported?
• What is the cash runway given FY 2025 FCF of $-8.3M against the reported $7.0M cash balance?
• Who are the institutional holders and insiders, and what are the directions and sizes of their recent transactions?