Hinge Health (NYSE:HNGE) Major Shareholder Insight Holdings Group, Llc Sells 224,399 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 224,399 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $70.95, for a total value of $15,921,109.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Insight Holdings Group, Llc also recently made the following trade(s):

• On Wednesday, June 24th, Insight Holdings Group, Llc sold 390,917 shares of Hinge Health stock. The stock was sold at an average price of $71.15, for a total value of $27,813,744.55.
• On Tuesday, June 23rd, Insight Holdings Group, Llc sold 112,477 shares of Hinge Health stock. The stock was sold at an average price of $70.21, for a total value of $7,897,010.17.
• On Tuesday, June 16th, Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock. The shares were sold at an average price of $70.36, for a total value of $4,614,279.16.

Hinge Health Price Performance

HNGE stock traded down $0.02 during midday trading on Wednesday, hitting $70.36. The company’s stock had a trading volume of 1,913,094 shares, compared to its average volume of 1,895,251. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $72.39. The company’s fifty day moving average price is $55.45 and its 200 day moving average price is $47.16. The stock has a market capitalization of $5.44 billion and a P/E ratio of -5.70.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company had revenue of $182.31 million during the quarter. During the same quarter in the prior year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 47.2% on a year-over-year basis. Equities analysts expect that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HNGE has been the topic of several research reports. Evercore reiterated an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a report on Wednesday, April 8th. Royal Bank Of Canada upped their price target on shares of Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Canaccord Genuity Group upped their target price on Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Truist Financial lifted their price target on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HNGE. Wells Fargo & Company MN lifted its position in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter worth about $26,000. CENTRAL TRUST Co bought a new position in shares of Hinge Health in the first quarter worth about $37,000. First Horizon Corp boosted its stake in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new stake in shares of Hinge Health during the 4th quarter valued at approximately $46,000.

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.