Susan Kantor Buys 96,150 Shares of Envoy Medical (NASDAQ:COCH) Stock

Envoy Medical, Inc. (NASDAQ:COCH) Director Susan Kantor acquired 96,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average cost of $0.40 per share, with a total value of $38,460.00. Following the acquisition, the director owned 174,037 shares in the company, valued at $69,614.80. The trade was a 123.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Envoy Medical Stock Up 9.9%

COCH opened at $0.76 on Thursday. The firm has a 50-day moving average price of $0.67 and a 200-day moving average price of $0.89. Envoy Medical, Inc. has a twelve month low of $0.36 and a twelve month high of $1.91. The company has a market capitalization of $21.79 million, a price-to-earnings ratio of -0.54 and a beta of 2.10.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Envoy Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Focus Partners Wealth purchased a new stake in shares of Envoy Medical in the 1st quarter valued at about $276,000. CIBC Bancorp USA Inc. purchased a new position in shares of Envoy Medical during the third quarter worth about $60,000. Finally, Geode Capital Management LLC grew its holdings in shares of Envoy Medical by 111.3% during the fourth quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock worth $65,000 after purchasing an additional 51,813 shares in the last quarter. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

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.