Envoy Medical (NASDAQ:COCH) Director Mona Chetan Patel Purchases 312,500 Shares

Envoy Medical, Inc. (NASDAQ:COCH) Director Mona Chetan Patel acquired 312,500 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average price of $0.40 per share, for a total transaction of $125,000.00. Following the transaction, the director directly owned 332,500 shares of the company’s stock, valued at approximately $133,000. The trade was a 1,562.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Envoy Medical Trading Up 14.8%

Shares of COCH opened at $0.69 on Wednesday. The company’s fifty day simple moving average is $0.67 and its 200-day simple moving average is $0.89. The company has a market cap of $19.83 million, a P/E ratio of -0.49 and a beta of 2.10. Envoy Medical, Inc. has a twelve month low of $0.36 and a twelve month high of $1.91.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COCH. CIBC Bancorp USA Inc. purchased a new stake in shares of Envoy Medical in the 3rd quarter worth $60,000. Geode Capital Management LLC increased its stake 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 valued at $65,000 after buying an additional 51,813 shares during the period. Finally, Focus Partners Wealth bought a new stake in shares of Envoy Medical in the first quarter valued at about $276,000. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on COCH. Wall Street Zen upgraded Envoy Medical to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed 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 company’s stock. Based on data from MarketBeat.com, Envoy Medical has a consensus rating of “Hold” and an average target price 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.