Emerald Advisers LLC Makes New Investment in Hinge Health Inc. $HNGE

Emerald Advisers LLC purchased a new position in shares of Hinge Health Inc. (NYSE:HNGE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 278,890 shares of the company’s stock, valued at approximately $10,754,000.

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

Insider Transactions at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.20, for a total value of $16,371,209.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the transaction, the chairman directly owned 83,334 shares in the company, valued at $7,087,556.70. The trade was 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. Insiders sold a total of 3,954,433 shares of company stock worth $300,724,532 over the last ninety days. 18.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HNGE. Morgan Stanley upped their price target on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a report on Wednesday, June 10th. Raymond James Financial boosted their target price on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. KeyCorp upped their target price on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company raised their price target on Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.67.

Hinge Health Trading Up 1.4%

Hinge Health stock opened at $90.03 on Tuesday. The stock has a market cap of $6.97 billion, a PE ratio of -7.30 and a beta of 1.13. The stock has a 50-day moving average price of $66.28 and a 200 day moving average price of $50.48. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $91.50.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. On average, equities analysts predict that Hinge Health Inc. will post 1.33 EPS for the current year.

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.