Insider Selling: Hinge Health (NYSE:HNGE) Chairman Sells 50,000 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $38.46, for a total value of $1,923,000.00. Following the sale, the chairman directly owned 50,000 shares in the company, valued at approximately $1,923,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 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 Price Performance

Shares of NYSE HNGE traded up $0.63 during mid-day trading on Thursday, reaching $39.12. The company’s stock had a trading volume of 475,882 shares, compared to its average volume of 1,021,723. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $62.18. The stock has a fifty day moving average of $40.26 and a two-hundred day moving average of $45.69. The firm has a market capitalization of $3.08 billion and a PE ratio of -3.05.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.45. The business had revenue of $170.73 million for the quarter, compared to the consensus estimate of $157.31 million. Hinge Health’s revenue was up 45.5% on a year-over-year basis.

Hedge Funds Weigh In On Hinge Health

Several hedge funds have recently bought and sold shares of the business. BIT Capital GmbH grew its holdings in shares of Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. boosted its position in Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares during the period. Tiger Global Management LLC boosted its position in Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after buying an additional 1,253,743 shares during the period. Marshall Wace LLP bought a new position in Hinge Health in the 4th quarter worth about $54,469,000. Finally, Millennium Management LLC increased its position in shares of Hinge Health by 225.0% during the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after acquiring an additional 1,024,317 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HNGE shares. KeyCorp set a $55.00 target price on shares of Hinge Health in a report on Wednesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 price target on shares of Hinge Health in a report on Wednesday, February 11th. Evercore set a $50.00 price objective on shares of Hinge Health and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Barclays lowered their target price on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, February 11th. Finally, Freedom Capital upgraded shares of Hinge Health to a “strong-buy” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued 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 company presently has an average rating of “Moderate Buy” and an average price target of $57.07.

About Hinge Health

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.