Envoy Medical (NASDAQ:COCH) CFO Buys $85,000.00 in Stock

Envoy Medical, Inc. (NASDAQ:COCH) CFO Robert Potashnick acquired 212,500 shares of Envoy Medical stock in a transaction dated Thursday, February 12th. The stock was acquired at an average cost of $0.40 per share, with a total value of $85,000.00. Following the completion of the transaction, the chief financial officer directly owned 212,500 shares of the company’s stock, valued at $85,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Envoy Medical Trading Up 14.8%

COCH traded up $0.09 on Tuesday, hitting $0.69. 1,345,417 shares of the stock traded hands, compared to its average volume of 1,103,151. The business has a fifty day moving average price of $0.67 and a two-hundred day moving average price of $0.89. The firm has a market capitalization of $19.83 million, a PE ratio of -0.49 and a beta of 2.10. Envoy Medical, Inc. has a 52 week low of $0.36 and a 52 week high of $1.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COCH. Focus Partners Wealth acquired a new stake in Envoy Medical in the 1st quarter valued at about $276,000. CIBC Bancorp USA Inc. acquired a new position in shares of Envoy Medical during the third quarter worth approximately $60,000. Finally, Geode Capital Management LLC raised its position in Envoy Medical by 111.3% in the 4th quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock worth $65,000 after purchasing an additional 51,813 shares during the last quarter. Institutional investors and hedge funds own 8.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COCH. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. Wall Street Zen raised Envoy Medical to a “sell” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.