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

Envoy Medical, Inc. (NASDAQ:COCH) CEO Brent Lucas bought 62,500 shares of Envoy Medical stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $0.40 per share, for a total transaction of $25,000.00. Following the purchase, the chief executive officer owned 297,090 shares in the company, valued at $118,836. This represents a 26.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Envoy Medical Stock Performance

Envoy Medical stock opened at $0.74 on Friday. Envoy Medical, Inc. has a fifty-two week low of $0.36 and a fifty-two week high of $1.91. The company has a market capitalization of $21.16 million, a price-to-earnings ratio of -0.52 and a beta of 2.10. The stock has a fifty day moving average of $0.66 and a two-hundred day moving average of $0.89.

Analysts Set New Price Targets

COCH has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Envoy Medical to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Envoy Medical presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of COCH. 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 acquiring an additional 51,813 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Envoy Medical during the third quarter worth approximately $60,000. Finally, Focus Partners Wealth acquired a new position in shares of Envoy Medical in the 1st quarter valued at $276,000. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

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.