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

Envoy Medical, Inc. (NASDAQ:COCH) CEO Brent Lucas acquired 62,500 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average price of $0.40 per share, with a total value of $25,000.00. Following the acquisition, the chief executive officer owned 297,090 shares in the company, valued at $118,836. This trade represents a 26.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Envoy Medical Stock Performance

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 company has a 50 day moving average of $0.67 and a 200-day moving average of $0.89. Envoy Medical, Inc. has a one year low of $0.36 and a one year high of $1.91. The stock has a market cap of $19.83 million, a PE ratio of -0.49 and a beta of 2.10.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COCH. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. Wall Street Zen raised shares of Envoy Medical to a “sell” rating in a research note 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. Based on data from MarketBeat.com, Envoy Medical currently has an average rating of “Hold” and an average target price of $9.50.

Institutional Investors Weigh In On Envoy Medical

Several large investors have recently modified their holdings of COCH. CIBC Bancorp USA Inc. purchased a new stake in Envoy Medical during the third quarter worth $60,000. Geode Capital Management LLC increased its holdings in shares of Envoy Medical by 111.3% in the 4th quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock valued at $65,000 after acquiring an additional 51,813 shares during the period. Finally, Focus Partners Wealth bought a new position in shares of Envoy Medical in the 1st quarter worth $276,000. Institutional investors 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.