Insight Holdings Group, Llc Sells 65,581 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 65,581 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $70.36, for a total value of $4,614,279.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Hinge Health Stock Up 1.7%

Shares of NYSE:HNGE opened at $70.01 on Wednesday. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $71.44. The company has a 50 day moving average of $54.80 and a two-hundred day moving average of $47.01. The company has a market capitalization of $5.42 billion and a price-to-earnings ratio of -5.67.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The business had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, equities analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HNGE. Evercore restated an “outperform” rating and set a $45.00 target price on shares of Hinge Health in a research note on Wednesday, April 8th. Canaccord Genuity Group upped their price target on shares of Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, June 15th. KeyCorp raised their price objective on shares of Hinge Health from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price target on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hinge Health currently has an average rating of “Moderate Buy” and an average target price of $75.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health in the fourth quarter worth about $26,000. CENTRAL TRUST Co acquired a new position in Hinge Health in the first quarter valued at approximately $37,000. First Horizon Corp grew its holdings in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC bought a new position in shares of Hinge Health during the fourth quarter valued at approximately $46,000.

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.