Insider Selling: Hinge Health (NYSE:HNGE) Chairman Sells $1,923,000.00 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $38.46, for a total transaction of $1,923,000.00. Following the transaction, the chairman directly owned 50,000 shares of the company’s stock, valued at approximately $1,923,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Stock Performance

HNGE stock opened at $39.12 on Friday. The firm has a market cap of $3.08 billion and a PE ratio of -3.05. The firm’s fifty day moving average is $40.19 and its 200 day moving average is $45.47. Hinge Health Inc. has a one year low of $30.08 and a one year high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.45. The firm had revenue of $170.73 million during the quarter, compared to analyst estimates of $157.31 million. The company’s quarterly revenue was up 45.5% compared to the same quarter last year.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays dropped their price objective on Hinge Health from $60.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $59.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. Evercore set a $50.00 price target on shares of Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th. KeyCorp set a $55.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada increased their price objective on shares of Hinge Health from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and a consensus target price of $57.07.

Institutional Trading of Hinge Health

A number of institutional investors have recently made changes to their positions in HNGE. BIT Capital GmbH increased its position in shares of Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after purchasing an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC boosted its stake in Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares during the last quarter. Millennium Management LLC boosted its stake in Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after purchasing an additional 1,024,317 shares during the last quarter. Finally, Braidwell LP grew its holdings in shares of Hinge Health by 43.3% during the fourth quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock worth $60,600,000 after buying an additional 394,147 shares in the last quarter.

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.