Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 83,333 Shares

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total transaction of $4,482,482.07. Following the transaction, the chairman directly owned 83,333 shares in the company, valued at $4,482,482.07. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was 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 stock was 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 transaction of $1,923,000.00.
• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Price Performance

HNGE opened at $53.49 on Thursday. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $62.18. The firm’s fifty day moving average price is $45.61 and its two-hundred day moving average price is $44.52. The company has a market capitalization of $4.14 billion and a price-to-earnings ratio of -4.33.

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 for the quarter. During the same period in the prior year, the business earned $1.30 EPS. Hinge Health’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, equities analysts anticipate that Hinge Health Inc. will post 1.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HNGE. Marshall Wace LLP purchased a new position in shares of Hinge Health during the 2nd quarter valued at $367,000. Sei Investments Co. purchased a new position in shares of Hinge Health during the 2nd quarter valued at $869,000. Squarepoint Ops LLC purchased a new position in shares of Hinge Health during the 2nd quarter valued at $19,706,000. Raymond James Financial Inc. purchased a new position in shares of Hinge Health during the 2nd quarter valued at $3,258,000. Finally, Sandia Investment Management LP purchased a new position in shares of Hinge Health during the 2nd quarter valued at $657,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James Financial reissued an “outperform” rating and set a $70.00 target price on shares of Hinge Health in a research report on Wednesday, May 6th. Stifel Nicolaus raised their target price on Hinge Health from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Barclays raised their target price on Hinge Health from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp raised their target price on Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Two investment analysts have 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.40.

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.