Envoy Medical (NASDAQ:COCH) CEO Buys $25,000.00 in Stock

Envoy Medical, Inc. (NASDAQ:COCH) CEO Brent Lucas bought 62,500 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average price of $0.40 per share, with a total value of $25,000.00. Following the completion of the purchase, the chief executive officer directly owned 297,090 shares in the company, valued at $118,836. This represents a 26.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Envoy Medical Stock Performance

Shares of NASDAQ COCH traded up $0.09 during mid-day trading on Tuesday, hitting $0.69. The stock had a trading volume of 1,345,417 shares, compared to its average volume of 1,103,151. The company has a 50 day moving average of $0.67 and a two-hundred day moving average of $0.89. The firm has a market cap of $19.83 million, a PE ratio of -0.49 and a beta of 2.10. Envoy Medical, Inc. has a twelve month low of $0.36 and a twelve month high of $1.91.

Hedge Funds Weigh In On Envoy Medical

Institutional investors have recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in Envoy Medical in the 3rd quarter worth about $60,000. Geode Capital Management LLC boosted its position in shares of Envoy Medical by 111.3% in the fourth 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 during the period. Finally, Focus Partners Wealth purchased a new stake in shares of Envoy Medical during the first quarter valued at approximately $276,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on COCH. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Envoy Medical to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.