Hinge Health (NYSE:HNGE) Shares Gap Up – Here’s What Happened

Hinge Health Inc. (NYSE:HNGE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $62.78, but opened at $65.17. Hinge Health shares last traded at $64.5610, with a volume of 134,875 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore reissued an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Wall Street Zen cut shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a research note on Wednesday. Two research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.80.

Hinge Health Trading Up 4.1%

The company’s 50 day simple moving average is $49.94 and its 200-day simple moving average is $45.88. The firm has a market cap of $5.00 billion and a P/E ratio of -5.24.

Hinge Health (NYSE:HNGE) last announced its quarterly 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 firm had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business’s revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. On average, sell-side analysts anticipate that Hinge Health Inc. will post 1.21 earnings per share for the current year.

Insider Activity at Hinge Health

In related news, President James Pursley sold 16,000 shares of Hinge Health stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $860,640.00. Following the completion of the sale, the president owned 780,223 shares of the company’s stock, valued at $41,968,195.17. The trade was a 2.01% decrease in their ownership of the stock. 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. Also, CEO Daniel Antonio Perez sold 45,456 shares of Hinge Health stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $55.05, for a total value of $2,502,352.80. Following the completion of the sale, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at $1,952,623.50. The trade was a 56.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 554,600 shares of company stock worth $29,859,068. Company insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased 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 purchasing an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health in the fourth quarter worth approximately $26,000. CENTRAL TRUST Co bought a new stake in Hinge Health during the first quarter valued at approximately $37,000. First Horizon Corp increased its holdings in 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 buying an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC purchased a new stake in Hinge Health during the fourth quarter valued at approximately $46,000.

About Hinge Health

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.