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

Envoy Medical, Inc. (NASDAQ:COCH) Director Mona Chetan Patel purchased 312,500 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of $0.40 per share, with a total value of $125,000.00. Following the purchase, the director owned 332,500 shares in the company, valued at approximately $133,000. This trade represents a 1,562.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Envoy Medical Trading Up 14.8%

Envoy Medical stock traded up $0.09 during mid-day trading on Tuesday, hitting $0.69. The company’s stock had a trading volume of 1,345,417 shares, compared to its average volume of 1,103,151. The stock’s fifty day moving average is $0.67 and its two-hundred day moving average is $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 1 year low of $0.36 and a 1 year high of $1.91.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on COCH shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. Wall Street Zen upgraded Envoy Medical to a “sell” rating in a research report on Saturday, November 8th. One investment 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, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

Institutional Trading of Envoy Medical

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position 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 worth $65,000 after purchasing an additional 51,813 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Envoy Medical during the third quarter worth $60,000. Finally, Focus Partners Wealth purchased a new position in Envoy Medical in the 1st quarter valued at $276,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

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.