Mona Chetan Patel Purchases 312,500 Shares of Envoy Medical (NASDAQ:COCH) Stock

Envoy Medical, Inc. (NASDAQ:COCH) Director Mona Chetan Patel acquired 312,500 shares of Envoy Medical stock in a transaction that occurred on Thursday, February 12th. The stock was acquired 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 $133,000. The trade was a 1,562.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Envoy Medical Price Performance

Envoy Medical stock opened at $0.76 on Thursday. Envoy Medical, Inc. has a one year low of $0.36 and a one year high of $1.91. The company’s fifty day moving average price is $0.67 and its two-hundred day moving average price is $0.89. The company has a market capitalization of $21.79 million, a price-to-earnings ratio of -0.54 and a beta of 2.10.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Envoy Medical

Several hedge funds and other institutional investors have recently modified their holdings of COCH. CIBC Bancorp USA Inc. acquired a new position in Envoy Medical during the 3rd quarter valued at $60,000. Geode Capital Management LLC increased its holdings in shares of Envoy Medical by 111.3% during 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 period. Finally, Focus Partners Wealth acquired a new position in shares of Envoy Medical during the first quarter valued at about $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.