Envoy Medical (NASDAQ:COCH) Director Purchases $125,000.00 in Stock

Envoy Medical, Inc. (NASDAQ:COCH) Director Mona Chetan Patel bought 312,500 shares of the stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of $0.40 per share, for a total transaction of $125,000.00. Following the acquisition, the director owned 332,500 shares of the company’s stock, valued at approximately $133,000. This represents a 1,562.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Envoy Medical Stock Up 14.8%

NASDAQ COCH traded up $0.09 during trading hours on Tuesday, hitting $0.69. 1,345,417 shares of the stock were exchanged, compared to its average volume of 1,103,151. The company has a market cap of $19.83 million, a price-to-earnings ratio of -0.49 and a beta of 2.10. Envoy Medical, Inc. has a 12-month low of $0.36 and a 12-month high of $1.91. The stock has a 50-day moving average of $0.67 and a 200 day moving average of $0.89.

Hedge Funds Weigh In On Envoy Medical

Several hedge funds and other institutional investors have recently bought and sold shares of COCH. Focus Partners Wealth purchased a new stake in Envoy Medical during the first quarter worth $276,000. Geode Capital Management LLC raised its stake in shares of 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 during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Envoy Medical during the 3rd quarter worth $60,000. 8.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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