Insider Buying: Envoy Medical (NASDAQ:COCH) CFO Acquires $85,000.00 in Stock

Envoy Medical, Inc. (NASDAQ:COCH) CFO Robert Potashnick acquired 212,500 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was acquired at an average price of $0.40 per share, with a total value of $85,000.00. Following the transaction, the chief financial officer directly owned 212,500 shares of the company’s stock, valued at $85,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Envoy Medical Stock Performance

Shares of NASDAQ COCH opened at $0.74 on Friday. Envoy Medical, Inc. has a one year low of $0.36 and a one year high of $1.91. The firm has a market capitalization of $21.16 million, a P/E ratio of -0.52 and a beta of 2.10. The company’s fifty day moving average is $0.66 and its two-hundred day moving average is $0.89.

Wall Street Analysts Forecast Growth

COCH has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Envoy Medical to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

Institutional Investors Weigh In On Envoy Medical

Large investors have recently bought and sold shares of the stock. Focus Partners Wealth purchased a new position in Envoy Medical during the first quarter worth $276,000. Geode Capital Management LLC lifted 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 valued at $65,000 after acquiring an additional 51,813 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Envoy Medical during the third quarter valued at $60,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

About Envoy Medical

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.