Envoy Medical (NASDAQ:COCH) Director Purchases $400,000.00 in Stock

Envoy Medical, Inc. (NASDAQ:COCH) Director Charles Brynelsen acquired 1,000,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were bought at an average price of $0.40 per share, for a total transaction of $400,000.00. Following the acquisition, the director owned 1,050,000 shares in the company, valued at approximately $420,000. This trade represents a 2,000.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Envoy Medical Stock Down 2.9%

COCH stock opened at $0.74 on Friday. Envoy Medical, Inc. has a twelve month low of $0.36 and a twelve month high of $1.91. The company has a market cap of $21.16 million, a PE ratio of -0.52 and a beta of 2.10. The business’s 50-day simple moving average is $0.66 and its 200 day simple moving average is $0.89.

Institutional Trading of Envoy Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in Envoy Medical by 111.3% during the 4th quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock worth $65,000 after buying an additional 51,813 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Envoy Medical in the third quarter worth about $60,000. Finally, Focus Partners Wealth acquired a new position in shares of Envoy Medical during the first quarter worth approximately $276,000. 8.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COCH shares. Wall Street Zen upgraded Envoy Medical to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Envoy Medical has a consensus rating of “Hold” and a consensus price target of $9.50.

Envoy Medical Company Profile

Envoy Medical (NASDAQ:COCH) is a medical device company focused on non-invasive neuromodulation therapies for dysphagia, a swallowing disorder that affects patients following neurological events or due to degenerative conditions. The company’s lead technology delivers targeted electrical stimulation designed to strengthen the muscles and neural pathways involved in the swallowing process.

Envoy Medical’s flagship therapy has received regulatory clearance from the U.S. Food and Drug Administration and is being introduced through rehabilitation centers, speech-language pathology clinics and acute care hospitals.