Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 83,334 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the transaction, the chairman directly owned 83,334 shares in the company, valued at approximately $7,087,556.70. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed 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 Friday, June 5th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were sold at an average price of $65.54, for a total value of $3,277,000.00.
• On Monday, June 1st, Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48.
• On Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The shares were sold at an average price of $53.79, for a total value of $4,482,482.07.
• On Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00.
• 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 value of $1,501,651.65.

Hinge Health Trading Down 1.1%

HNGE traded down $0.92 during midday trading on Thursday, hitting $84.15. The company’s stock had a trading volume of 1,112,679 shares, compared to its average volume of 1,485,072. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $86.66. The firm has a 50-day moving average price of $59.32 and a two-hundred day moving average price of $48.25. The firm has a market cap of $6.51 billion, a P/E ratio of -6.82 and a beta of 1.10.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share 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 310.62%. The business had revenue of $182.31 million for the quarter. During the same quarter in the previous year, the company earned $1.30 earnings per share. The company’s revenue was up 47.2% on a year-over-year basis. On average, equities analysts expect that Hinge Health Inc. will post 1.33 EPS for the current year.

Hedge Funds Weigh In On Hinge Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its position in shares of Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after acquiring an additional 300 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares during the last quarter. Lazard Asset Management LLC grew its stake in Hinge Health by 0.6% during the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after purchasing an additional 386 shares in the last quarter. First Horizon Corp grew its stake in Hinge Health by 163.9% during 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, Caitong International Asset Management Co. Ltd purchased a new stake in Hinge Health during the 4th quarter worth approximately $26,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore reaffirmed an “outperform” rating and set a $45.00 price target on shares of Hinge Health in a research note on Wednesday, April 8th. Royal Bank Of Canada boosted their price objective 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. Citizens Jmp upped their price objective on Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Wall Street Zen lowered Hinge Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings raised Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.80.

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.