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

Envoy Medical, Inc. (NASDAQ:COCH) CEO Brent Lucas bought 62,500 shares of Envoy Medical stock in a transaction dated Thursday, February 12th. The stock was acquired at an average price of $0.40 per share, for a total transaction of $25,000.00. Following the completion of the acquisition, the chief executive officer owned 297,090 shares in the company, valued at approximately $118,836. The trade was a 26.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Envoy Medical Trading Up 14.8%

Shares of COCH opened at $0.69 on Wednesday. The company’s fifty day simple moving average is $0.67 and its 200-day simple moving average is $0.89. The company has a market cap of $19.83 million, a P/E ratio of -0.49 and a beta of 2.10. Envoy Medical, Inc. has a twelve month low of $0.36 and a twelve month high of $1.91.

Analyst Upgrades and Downgrades

COCH has been the topic of several research analyst reports. Wall Street Zen raised Envoy Medical to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COCH. Focus Partners Wealth bought a new stake in Envoy Medical during the 1st quarter valued at $276,000. Geode Capital Management LLC increased 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 valued at $65,000 after buying an additional 51,813 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Envoy Medical during the third quarter valued at $60,000. 8.59% of the stock is currently owned by hedge funds and other 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.