Insider Selling: Hinge Health (NYSE:HNGE) Chairman Sells $7,553,303.12 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock in a transaction on Friday, March 6th. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hinge Health Trading Down 1.9%

Shares of HNGE opened at $44.56 on Friday. The company’s fifty day simple moving average is $41.56 and its 200-day simple moving average is $47.30. The company has a market cap of $3.51 billion and a P/E ratio of -3.48. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.04 by $0.45. The firm had revenue of $170.73 million for the quarter, compared to the consensus estimate of $157.31 million. The company’s revenue for the quarter was up 45.5% on a year-over-year basis.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in Hinge Health in the second quarter valued at about $43,840,000. Seven Grand Managers LLC purchased a new stake in shares of Hinge Health in the 2nd quarter valued at $12,938,000. Foresite Capital Management VI LLC purchased a new position in shares of Hinge Health during the 2nd quarter valued at about $6,986,000. Ensign Peak Advisors Inc acquired a new position in Hinge Health in the second quarter valued at approximately $16,172,000. Finally, American Century Companies Inc. acquired a new position in shares of Hinge Health in the 2nd quarter valued at $27,268,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HNGE. Stifel Nicolaus set a $59.00 price target on Hinge Health in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research report on Thursday, January 22nd. Canaccord Genuity Group decreased their target price on Hinge Health from $65.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Evercore set a $50.00 target price on shares of Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, KeyCorp set a $55.00 price target on shares of Hinge Health in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Hinge Health has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

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.