Charles Brynelsen Acquires 1,000,000 Shares of Envoy Medical (NASDAQ:COCH) Stock

Envoy Medical, Inc. (NASDAQ:COCH) Director Charles Brynelsen bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $0.40 per share, for a total transaction of $400,000.00. Following the completion of the transaction, the director directly owned 1,050,000 shares of the company’s stock, valued at $420,000. This represents a 2,000.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Envoy Medical Price Performance

NASDAQ COCH opened at $0.76 on Thursday. The stock has a market capitalization of $21.79 million, a PE ratio of -0.54 and a beta of 2.10. The business has a 50 day simple moving average of $0.67 and a two-hundred day simple moving average of $0.89. Envoy Medical, Inc. has a 1-year low of $0.36 and a 1-year high of $1.91.

Institutional Trading of Envoy Medical

A number of institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new position in Envoy Medical during the third quarter worth $60,000. Geode Capital Management LLC lifted its holdings 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 worth $65,000 after acquiring an additional 51,813 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Envoy Medical during the 1st quarter worth about $276,000. 8.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COCH has been the topic of several research reports. Wall Street Zen upgraded shares of Envoy Medical to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.