15,900 Shares in Hinge Health Inc. $HNGE Acquired by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC acquired a new stake in Hinge Health Inc. (NYSE:HNGE) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,900 shares of the company’s stock, valued at approximately $613,000. Hinge Health comprises approximately 1.2% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Hinge Health during the 2nd quarter valued at about $367,000. Sei Investments Co. purchased a new position in Hinge Health during the second quarter worth approximately $869,000. Squarepoint Ops LLC purchased a new position in Hinge Health during the second quarter worth approximately $19,706,000. Raymond James Financial Inc. purchased a new stake in Hinge Health in the 2nd quarter valued at $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Hinge Health in the 2nd quarter worth $657,000.

Hinge Health Stock Performance

Hinge Health stock opened at $78.84 on Friday. The company has a market capitalization of $6.10 billion and a price-to-earnings ratio of -6.39. The company’s 50 day simple moving average is $56.92 and its 200-day simple moving average is $47.55. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $79.26.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating 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 business posted $1.30 EPS. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. Equities analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on HNGE. Citigroup reissued an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Robert W. Baird lifted their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. Citizens Jmp boosted their target price on shares of Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Zacks Research raised shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Canaccord Genuity Group raised their price target on shares of Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and an average target price of $75.80.

Insider Buying and Selling

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction dated 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 completion of the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at $5,018,373.48. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 390,917 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $71.15, for a total transaction of $27,813,744.55. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,497,279 shares of company stock valued at $97,492,856. Corporate insiders own 18.92% of the company’s stock.

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.