Hinge Health (NYSE:HNGE) Chairman Sells $4,482,482.07 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $4,482,482.07. Following the completion of the transaction, the chairman directly owned 83,333 shares of the company’s stock, valued at approximately $4,482,482.07. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gabriel M.I. Mecklenburg also recently made the following trade(s):

• On Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00.
• On Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The shares were sold at an average price of $45.05, for a total transaction of $1,501,651.65.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $38.46, for a total value of $1,923,000.00.
• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The shares were sold at an average price of $45.32, for a total value of $7,553,303.12.

Hinge Health Trading Up 2.1%

Shares of NYSE HNGE opened at $56.13 on Friday. The company has a market capitalization of $4.34 billion and a P/E ratio of -4.55. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $62.18. The stock has a 50 day moving average of $46.06 and a 200-day moving average of $44.67.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business had revenue of $182.31 million for the quarter. During the same quarter last year, the company posted $1.30 EPS. The firm’s revenue was up 47.2% on a year-over-year basis. Analysts predict that Hinge Health Inc. will post 1.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on HNGE. Zacks Research raised shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Piper Sandler reissued an “overweight” rating and issued a $95.00 price target on shares of Hinge Health in a report on Wednesday, May 6th. Needham & Company LLC raised their price objective on shares of Hinge Health from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Citigroup restated an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Finally, Wall Street Zen raised Hinge Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.40.

Institutional Investors Weigh In On Hinge Health

A number of large investors have recently added to or reduced their stakes in the stock. BIT Capital GmbH raised its holdings in Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after acquiring an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after purchasing an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC grew its holdings in shares of Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares in the last quarter. Millennium Management LLC increased its position in shares of Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after purchasing an additional 1,024,317 shares during the period. Finally, Braidwell LP increased its position in shares of Hinge Health by 43.3% in the fourth quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock worth $60,600,000 after purchasing an additional 394,147 shares during the period.

Hinge Health Company Profile

Hinge Health (NYSE: HNGE) is a digital musculoskeletal (MSK) clinic that provides end-to-end solutions for the prevention and management of musculoskeletal conditions. The company’s platform combines wearable motion sensors, personalized exercise therapy guided by licensed physical therapists, and behavioral health coaching to deliver tailored treatment plans. By integrating technology with evidence-based clinical protocols, Hinge Health aims to reduce pain, improve mobility and decrease reliance on more invasive interventions such as surgery or opioid prescriptions.

Founded in 2015 and headquartered in San Francisco, Hinge Health partners with employers, health plans and other payers to offer its self-directed, app-based programs.