Alkeon Capital Management LLC Raises Stake in Hinge Health Inc. $HNGE

Alkeon Capital Management LLC boosted its position in Hinge Health Inc. (NYSE:HNGE) by 110.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791,104 shares of the company’s stock after buying an additional 415,093 shares during the quarter. Alkeon Capital Management LLC’s holdings in Hinge Health were worth $36,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of HNGE. Marshall Wace LLP purchased a new stake in Hinge Health in the second quarter worth approximately $367,000. Sei Investments Co. purchased a new stake in Hinge Health in the second quarter worth approximately $869,000. Squarepoint Ops LLC purchased a new stake in Hinge Health in the second quarter worth approximately $19,706,000. Raymond James Financial Inc. purchased a new stake in Hinge Health in the second quarter worth approximately $3,258,000. Finally, Sandia Investment Management LP purchased a new stake in Hinge Health in the second quarter worth approximately $657,000.

Insiders Place Their Bets

In related news, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $65.54, for a total value of $3,277,000.00. Following the completion of the sale, the chairman owned 50,000 shares of the company’s stock, valued at $3,277,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 5,907 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $317,737.53. Following the completion of the sale, the chief financial officer directly owned 445,386 shares of the company’s stock, valued at $23,957,312.94. The trade was a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 554,600 shares of company stock worth $29,859,068. Insiders own 18.92% of the company’s stock.

Analyst Upgrades and Downgrades

HNGE has been the subject of several research reports. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Evercore reissued an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a research note on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Citizens Jmp increased their price objective on Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Finally, KeyCorp increased their price objective on Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hinge Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.53.

Hinge Health Stock Performance

NYSE:HNGE opened at $68.54 on Tuesday. The firm has a market cap of $5.30 billion and a PE ratio of -5.55. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $68.68. The business has a 50 day moving average price of $51.07 and a 200-day moving average price of $46.15.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data 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 firm had revenue of $182.31 million during the quarter. During the same period last year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. Research analysts predict that Hinge Health Inc. will post 1.21 EPS for the current year.

Hinge Health 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.