Envoy Medical (NASDAQ:COCH) CFO Robert Potashnick Purchases 212,500 Shares

Envoy Medical, Inc. (NASDAQ:COCH) CFO Robert Potashnick bought 212,500 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average price of $0.40 per share, with a total value of $85,000.00. Following the purchase, the chief financial officer owned 212,500 shares of the company’s stock, valued at approximately $85,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Envoy Medical Price Performance

Envoy Medical stock opened at $0.69 on Wednesday. The stock has a market cap of $19.83 million, a PE ratio of -0.49 and a beta of 2.10. The stock’s fifty day moving average is $0.67 and its two-hundred day moving average is $0.89. Envoy Medical, Inc. has a 1-year low of $0.36 and a 1-year high of $1.91.

Hedge Funds Weigh In On Envoy Medical

Institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new stake in Envoy Medical during the 1st quarter valued at approximately $276,000. CIBC Bancorp USA Inc. acquired a new position in shares of Envoy Medical in the third quarter valued at approximately $60,000. Finally, Geode Capital Management LLC raised 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 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

Several research analysts have recently issued reports on COCH shares. Wall Street Zen upgraded shares of Envoy Medical to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Envoy Medical presently has an average rating of “Hold” and a consensus 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.