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

Envoy Medical, Inc. (NASDAQ:COCH) Director Susan Kantor purchased 96,150 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of $0.40 per share, with a total value of $38,460.00. Following the acquisition, the director directly owned 174,037 shares in the company, valued at approximately $69,614.80. The trade was a 123.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Envoy Medical Trading Up 14.8%

Envoy Medical stock traded up $0.09 during trading on Tuesday, hitting $0.69. The company had a trading volume of 1,345,417 shares, compared to its average volume of 1,103,151. The company’s 50 day simple moving average is $0.67 and its 200-day simple moving average is $0.89. Envoy Medical, Inc. has a 1-year low of $0.36 and a 1-year high of $1.91. The stock has a market cap of $19.83 million, a price-to-earnings ratio of -0.49 and a beta of 2.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Envoy Medical during the third quarter worth $60,000. Geode Capital Management LLC increased its stake in Envoy Medical by 111.3% during the fourth quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock valued at $65,000 after purchasing an additional 51,813 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Envoy Medical during the first quarter worth about $276,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised 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 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.50.

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.