Hinge Health (NYSE:HNGE) Major Shareholder Sells $10,199,429.37 in Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 142,311 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $71.67, for a total value of $10,199,429.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares are required to disclose their transactions 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 shares were sold at an average price of $70.21, for a total transaction of $7,897,010.17.
• On Monday, June 22nd, Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock. The shares were sold at an average price of $70.95, for a total transaction of $15,921,109.05.
• On Tuesday, June 16th, Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock. The stock was sold at an average price of $70.36, for a total transaction of $4,614,279.16.

Hinge Health Stock Up 4.9%

Shares of Hinge Health stock opened at $78.84 on Friday. The stock has a market capitalization of $6.10 billion and a price-to-earnings ratio of -6.39. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $79.26. The company has a 50-day simple moving average of $56.92 and a two-hundred day simple moving average of $47.55.

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 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 firm had revenue of $182.31 million for the quarter. During the same quarter in the previous year, the company earned $1.30 EPS. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, sell-side analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HNGE has been the topic of a number of recent research reports. Barclays raised their price objective on Hinge Health from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Raymond James Financial increased their target price on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Finally, Wells Fargo & Company upped their price objective on shares of Hinge Health from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Institutional Investors Weigh In On Hinge Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its holdings in shares of Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health during the 4th quarter worth $26,000. CENTRAL TRUST Co bought a new stake in shares of Hinge Health during the 1st quarter worth $37,000. First Horizon Corp lifted its position in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC acquired a new stake in Hinge Health in the fourth quarter valued at about $46,000.

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.