Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 50,000 Shares

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the transaction, the chairman owned 50,000 shares of the company’s stock, valued at $2,750,500. 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 the SEC website. 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 Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The stock was sold at an average price of $45.05, for a total transaction of $1,501,651.65.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $38.46, for a total transaction of $1,923,000.00.
• 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

Shares of NYSE:HNGE opened at $55.89 on Friday. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $62.18. The firm has a fifty day moving average of $42.81 and a 200 day moving average of $44.00. The firm has a market capitalization of $4.40 billion and a PE ratio of -4.53.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 279.39%. The company had revenue of $182.31 million during the quarter. During the same quarter last year, the firm posted $1.30 earnings per share. The firm’s revenue was up 47.2% on a year-over-year basis. On average, sell-side analysts forecast that Hinge Health Inc. will post 0.78 EPS for the current fiscal year.

Institutional Trading of Hinge Health

Several institutional investors have recently added to or reduced their stakes in HNGE. BIT Capital GmbH boosted its position in Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after buying an additional 1,466,577 shares during the period. Vanguard Group Inc. boosted its position in Hinge Health by 110.5% during 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 during the period. Tiger Global Management LLC boosted its position in Hinge Health by 227.1% during 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 during the period. Marshall Wace LLP purchased a new stake in Hinge Health during the fourth quarter valued at about $54,469,000. Finally, Millennium Management LLC boosted its position in Hinge Health by 225.0% during the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after buying an additional 1,024,317 shares during the period.

Wall Street Analysts Forecast Growth

HNGE has been the subject of several research reports. KeyCorp set a $55.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. Citizens Jmp upped their target price on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Barclays upped their target price on shares of Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on shares of Hinge Health from $59.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.40.

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.