Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 83,334 Shares

Hinge Health Inc. (NYSE:HNGE) 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 transaction, the chairman directly owned 83,334 shares in the company, valued at approximately $5,018,373.48. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total value of $4,482,482.07.
• 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 value 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 value 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 value 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 value of $7,553,303.12.

Hinge Health Stock Performance

Shares of HNGE opened at $58.62 on Thursday. The stock has a 50 day moving average price of $47.02 and a two-hundred day moving average price of $45.03. The firm has a market capitalization of $4.54 billion and a P/E ratio of -4.75. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. On average, equities analysts forecast that Hinge Health Inc. will post 1.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays increased their target price on Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their price objective on Hinge Health from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Evercore reiterated an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp increased their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given 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 $67.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HNGE. Vanguard Group Inc. grew its stake in shares of Hinge Health by 22.6% in the third quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock worth $60,753,000 after purchasing an additional 228,234 shares during the last quarter. UBS Group AG grew its stake in shares of Hinge Health by 168.8% in the fourth quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after purchasing an additional 223,980 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Hinge Health by 25.9% in the third quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company’s stock worth $18,467,000 after purchasing an additional 77,464 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Hinge Health in the third quarter worth about $4,074,000. Finally, Braidwell LP bought a new stake in shares of Hinge Health in the third quarter worth about $44,686,000.

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.