Hinge Health (NYSE:HNGE) CFO James Budge Sells 11,006 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 11,006 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $42.26, for a total value of $465,113.56. Following the completion of the transaction, the chief financial officer owned 401,427 shares of the company’s stock, valued at $16,964,305.02. The trade was a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hinge Health Stock Performance

NYSE:HNGE opened at $40.08 on Thursday. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $62.18. The company has a market cap of $3.16 billion and a P/E ratio of -3.13. The stock’s 50-day simple moving average is $40.78 and its 200 day simple moving average is $46.42.

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 company had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. Hinge Health’s revenue was up 45.5% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $65.00 target price on shares of Hinge Health in a research note on Wednesday, February 11th. Evercore set a $50.00 price target on shares of Hinge Health and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Wells Fargo & Company started coverage on shares of Hinge Health in a research note on Thursday, January 8th. They issued an “overweight” rating and a $68.00 price target for the company. Barclays decreased their price objective on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Finally, Canaccord Genuity Group lowered their price objective on shares of Hinge Health from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in shares of Hinge Health during the second quarter worth approximately $43,840,000. Seven Grand Managers LLC bought a new position in shares of Hinge Health during the second quarter worth approximately $12,938,000. Foresite Capital Management VI LLC acquired a new stake in Hinge Health during the 2nd quarter worth approximately $6,986,000. Franklin Resources Inc. acquired a new stake in Hinge Health during the 2nd quarter worth approximately $28,462,000. Finally, American Century Companies Inc. bought a new stake in Hinge Health in the 2nd quarter valued at $27,268,000.

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.