Brent Lucas Buys 62,500 Shares of Envoy Medical (NASDAQ:COCH) Stock

Envoy Medical, Inc. (NASDAQ:COCH) CEO Brent Lucas bought 62,500 shares of the stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $0.40 per share, for a total transaction of $25,000.00. Following the acquisition, the chief executive officer directly owned 297,090 shares in the company, valued at approximately $118,836. This trade represents a 26.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Envoy Medical Price Performance

NASDAQ:COCH opened at $0.76 on Thursday. Envoy Medical, Inc. has a 1 year low of $0.36 and a 1 year high of $1.91. The stock’s fifty day moving average price is $0.67 and its two-hundred day moving average price is $0.89. The company has a market cap of $21.79 million, a P/E ratio of -0.54 and a beta of 2.10.

Analysts Set New Price Targets

COCH has been the topic of several analyst reports. 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 note on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Envoy Medical has an average rating of “Hold” and a consensus price target of $9.50.

Hedge Funds Weigh In On Envoy Medical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Partners Wealth bought a new stake in Envoy Medical during the 1st quarter valued at $276,000. CIBC Bancorp USA Inc. bought a new position in shares of Envoy Medical in the 3rd quarter worth approximately $60,000. Finally, Geode Capital Management LLC lifted 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 during the period. 8.59% of the stock is currently owned by 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.