Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 50,000 Shares

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $65.54, for a total value of $3,277,000.00. Following the sale, the chairman owned 50,000 shares of the company’s stock, valued at $3,277,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 Monday, June 1st, Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48.
• On Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The shares were 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 shares were 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 shares were 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 shares were sold at an average price of $38.46, for a total value of $1,923,000.00.

Hinge Health Stock Performance

Shares of NYSE:HNGE opened at $63.48 on Friday. Hinge Health Inc. has a one year low of $30.08 and a one year high of $66.55. The stock has a fifty day moving average of $47.93 and a 200-day moving average of $45.31. The company has a market capitalization of $4.91 billion and a PE ratio of -5.14.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The company had revenue of $182.31 million during the quarter. During the same quarter last year, the company posted $1.30 EPS. Hinge Health’s revenue was up 47.2% on a year-over-year basis. As a group, research analysts forecast that Hinge Health Inc. will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently modified their holdings of HNGE. BIT Capital GmbH increased its stake in shares of Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after acquiring an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Hinge Health by 110.5% in the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after acquiring an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC increased its stake in shares of Hinge Health by 227.1% in the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after acquiring an additional 1,253,743 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Hinge Health in the fourth quarter worth $54,469,000. Finally, Millennium Management LLC increased its stake in shares of Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after acquiring an additional 1,024,317 shares during the last quarter.

Hinge Health News Roundup

Here are the key news stories impacting Hinge Health this week:

• Positive Sentiment: Canaccord Genuity raised its price target on Hinge Health to $65 from $63 and reiterated a buy rating, reinforcing a constructive analyst view on the stock. Article Title
• Positive Sentiment: Other recent commentary also stayed upbeat, including technical coverage pointing to a “golden cross,” which can attract momentum investors. Article Title
• Positive Sentiment: Hinge Health’s last earnings report beat estimates, with revenue up 47.2% year over year, supporting the view that the business is still growing rapidly. Article Title
• Neutral Sentiment: One article highlighted Hinge Health as a promising mid-cap healthcare name, but it did not include a new catalyst beyond a generally favorable long-term investment case. Article Title
• Negative Sentiment: Chairman Gabriel M.I. Mecklenburg disclosed another large insider sale of 50,000 shares at $65.54, adding to a series of recent sales and potentially creating some overhang for sentiment. Article Title

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HNGE. Canaccord Genuity Group boosted their target price on shares of Hinge Health from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler reissued an “overweight” rating and set a $95.00 target price on shares of Hinge Health in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Truist Financial set a $79.00 target price on shares of Hinge Health in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Hinge Health from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.53.

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.