Robert Potashnick Buys 212,500 Shares of Envoy Medical (NASDAQ:COCH) Stock

Envoy Medical, Inc. (NASDAQ:COCH) CFO Robert Potashnick purchased 212,500 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $0.40 per share, for a total transaction of $85,000.00. Following the completion of the transaction, the chief financial officer directly owned 212,500 shares in the company, valued at $85,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Envoy Medical Stock Up 9.9%

Shares of COCH stock opened at $0.76 on Thursday. Envoy Medical, Inc. has a 52-week low of $0.36 and a 52-week high of $1.91. The stock has a market cap 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 200-day simple moving average of $0.89.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. purchased a new position in shares of Envoy Medical during the 3rd quarter valued at approximately $60,000. Geode Capital Management LLC raised its position in 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 acquiring an additional 51,813 shares during the period. Finally, Focus Partners Wealth purchased a new position in Envoy Medical during the first quarter valued at $276,000. 8.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on COCH shares. Weiss Ratings restated 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 research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.