Insider Selling: Hinge Health (NYSE:HNGE) President Sells 33,000 Shares

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 33,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the transaction, the president directly owned 740,897 shares in the company, valued at $51,351,571.07. The trade was a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 26th, James Pursley sold 16,000 shares of Hinge Health stock. The shares were sold at an average price of $53.79, for a total transaction of $860,640.00.

Hinge Health Stock Performance

Shares of Hinge Health stock traded up $1.16 on Tuesday, reaching $70.01. The company had a trading volume of 1,297,201 shares, compared to its average volume of 1,378,244. The firm’s 50 day moving average price is $54.11 and its two-hundred day moving average price is $46.84. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $71.44. The firm has a market cap of $5.42 billion and a PE ratio of -5.67.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data 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 firm had revenue of $182.31 million during the quarter. During the same period in the previous year, the business posted $1.30 EPS. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, sell-side analysts predict that Hinge Health Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on HNGE shares. Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Truist Financial increased their target price on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Stifel Nicolaus set a $79.00 price target on shares of Hinge Health in a research report on Wednesday, June 10th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.13.

Institutional Trading of Hinge Health

A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in shares of Hinge Health in the 2nd quarter valued at about $367,000. Sei Investments Co. acquired a new position in Hinge Health in the second quarter valued at approximately $869,000. Squarepoint Ops LLC purchased a new position in Hinge Health in the second quarter valued at approximately $19,706,000. Raymond James Financial Inc. acquired a new stake in Hinge Health during the second quarter worth approximately $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in Hinge Health during the second quarter worth approximately $657,000.

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.