Emerald Mutual Fund Advisers Trust Invests $7.01 Million in Hinge Health Inc. $HNGE

Emerald Mutual Fund Advisers Trust purchased a new position in shares of Hinge Health Inc. (NYSE:HNGE) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 181,766 shares of the company’s stock, valued at approximately $7,009,000.

Several other institutional investors have also recently added to or reduced their stakes in HNGE. Wells Fargo & Company MN raised its stake in Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Hinge Health during the 4th quarter worth approximately $26,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health in the 1st quarter valued at approximately $37,000. First Horizon Corp grew its stake in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC acquired a new position in shares of Hinge Health in the fourth quarter valued at approximately $46,000.

Hinge Health Stock Performance

Shares of NYSE HNGE opened at $90.03 on Tuesday. The firm has a market capitalization of $6.97 billion, a P/E ratio of -7.30 and a beta of 1.13. Hinge Health Inc. has a one year low of $30.08 and a one year high of $91.50. The company’s fifty day moving average is $66.28 and its two-hundred day moving average is $50.48.

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, topping analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million for the quarter. During the same period last year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. On average, sell-side analysts forecast that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HNGE. Truist Financial upped their price target on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Stifel Nicolaus set a $79.00 price objective on shares of Hinge Health in a research report on Wednesday, June 10th. Citizens Jmp boosted their price objective on shares of Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Finally, KeyCorp raised their target price on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.67.

Insiders Place Their Bets

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman owned 83,334 shares in the company, valued at $5,018,373.48. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the completion of the transaction, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at $1,954,042.30. The trade was a 74.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,954,433 shares of company stock worth $300,724,532. 18.92% of the stock is owned by company insiders.

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.