Insider Buying: Envoy Medical (NASDAQ:COCH) Director Buys $125,000.00 in Stock

Envoy Medical, Inc. (NASDAQ:COCH) Director Mona Chetan Patel purchased 312,500 shares of the stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $0.40 per share, with a total value of $125,000.00. Following the completion of the purchase, the director owned 332,500 shares in the company, valued at $133,000. The trade was a 1,562.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Envoy Medical Price Performance

Envoy Medical stock opened at $0.74 on Friday. The company’s 50 day simple moving average is $0.66 and its 200 day simple moving average is $0.89. Envoy Medical, Inc. has a fifty-two week low of $0.36 and a fifty-two week high of $1.91. The firm has a market capitalization of $21.16 million, a price-to-earnings ratio of -0.52 and a beta of 2.10.

Institutional Trading of Envoy Medical

A number of hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new position in Envoy Medical during the third quarter valued at approximately $60,000. Geode Capital Management LLC boosted its stake in shares of Envoy Medical by 111.3% in the 4th 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 in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Envoy Medical during the 1st quarter valued at $276,000. Institutional investors own 8.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on COCH shares. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. Wall Street Zen raised Envoy Medical to a “sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Envoy Medical has a consensus rating of “Hold” and an average price target 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.