MRA Advisory Group Makes New Investment in Hinge Health Inc. $HNGE

MRA Advisory Group acquired a new position in shares of Hinge Health Inc. (NYSE:HNGE – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,763 shares of the company’s stock, valued at approximately $755,000.

Other large investors have also recently bought and sold shares of the company. 11.2 Capital Management LLC purchased a new stake in Hinge Health in the second quarter valued at $204,566,531. Wellington Management Group LLP grew its position in Hinge Health by 169.7% during the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock valued at $100,063,000 after buying an additional 758,594 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Hinge Health by 225.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after buying an additional 806,007 shares in the last quarter. Alkeon Capital Management LLC raised its position in shares of Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after acquiring an additional 415,093 shares during the period. Finally, Estuary Capital Management LP acquired a new position in shares of Hinge Health in the first quarter worth about $15,201,000.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HNGE. Citizens Jmp raised their target price on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Canaccord Genuity Group set a $105.00 price target on Hinge Health in a research report on Wednesday, August 5th. Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Royal Bank Of Canada boosted their price objective on Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Bank of America assumed coverage on Hinge Health in a research note on Tuesday, September 29th. They set a “buy” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Hinge Health has an average rating of “Moderate Buy” and an average price target of $105.33.

Get Our Latest Stock Analysis on HNGE

Insider Transactions at Hinge Health

In other Hinge Health news, Director Kristina M. Leslie sold 1,200 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $88.23, for a total value of $105,876.00. Following the transaction, the director owned 30,387 shares in the company, valued at approximately $2,681,045.01. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Gabriel Mecklenburg sold 150,000 shares of Hinge Health stock in a transaction on Monday, September 14th. The stock was sold at an average price of $93.22, for a total transaction of $13,983,000.00. Following the sale, the chairman directly owned 150,000 shares in the company, valued at approximately $13,983,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 954,260 shares of company stock valued at $86,045,787. Insiders own 18.92% of the company’s stock.

Hinge Health Stock Performance

Shares of HNGE traded up $0.20 during mid-day trading on Wednesday, hitting $98.55. 365,305 shares of the company were exchanged, compared to its average volume of 1,591,911. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 76.99 and a beta of 1.37. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $100.36. The company has a 50 day moving average of $89.76 and a 200-day moving average of $70.22.

Hinge Health (NYSE:HNGE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The company had revenue of $212.82 million for the quarter. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 53.0% on a year-over-year basis. Research analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

About Hinge Health

(Free Report)

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.

See Also

Institutional Ownership by Quarter for Hinge Health (NYSE:HNGE)

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