Hinge Health (NYSE:HNGE) CFO Sells $323,766.92 in Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 5,906 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $54.82, for a total transaction of $323,766.92. Following the sale, the chief financial officer owned 386,293 shares in the company, valued at approximately $21,176,582.26. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Budge also recently made the following trade(s):

• On Monday, March 23rd, James Budge sold 11,006 shares of Hinge Health stock. The stock was sold at an average price of $42.26, for a total transaction of $465,113.56.

Hinge Health Trading Down 0.5%

NYSE HNGE opened at $53.78 on Friday. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $62.18. The stock has a market cap of $4.24 billion and a price-to-earnings ratio of -4.36. The company has a 50-day moving average price of $43.95 and a two-hundred day moving average price of $44.18.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $182.31 million during the quarter. During the same quarter last year, the company posted $1.30 EPS. Hinge Health’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, equities research analysts expect that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hinge Health

Several hedge funds have recently made changes to their positions in HNGE. Wells Fargo & Company MN lifted its position in shares of Hinge Health by 160.0% in 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health during the 4th quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health in the 3rd quarter valued at $37,000. CENTRAL TRUST Co acquired a new position in Hinge Health in the 1st quarter valued at $37,000. Finally, First Horizon Corp grew its stake in 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 buying an additional 531 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Needham & Company LLC upped their target price 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. KeyCorp set a $55.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. Barclays upped their target price on shares of Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Freedom Capital upgraded shares of Hinge Health to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Truist Financial set a $79.00 price objective on shares of Hinge Health in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.40.

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.