Insider Selling: Hinge Health (NYSE:HNGE) Chairman Sells 50,000 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00. Following the completion of the transaction, the chairman directly owned 50,000 shares of the company’s stock, valued at approximately $2,750,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,501,651.65.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were 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 shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Price Performance

Shares of HNGE stock traded up $0.89 during mid-day trading on Friday, hitting $55.89. The company had a trading volume of 1,861,078 shares, compared to its average volume of 1,251,254. The stock’s 50 day moving average price is $42.81 and its 200-day moving average price is $44.00. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $62.18. The company has a market capitalization of $4.40 billion and a P/E ratio of -4.53.

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

Analysts Set New Price Targets

A number of research firms have recently commented on HNGE. Truist Financial set a $79.00 target price on Hinge Health in a research report on Wednesday. Wall Street Zen downgraded shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays lifted their price objective on shares of Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore restated an “outperform” rating and issued a $45.00 target price on shares of Hinge Health in a report on Wednesday, April 8th. Finally, Canaccord Genuity Group upped their target price on shares of Hinge Health from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in shares of Hinge Health by 172.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,898 shares of the company’s stock valued at $382,000 after acquiring an additional 6,268 shares during the period. Swiss National Bank grew its holdings in Hinge Health by 8.1% during the 1st quarter. Swiss National Bank now owns 34,800 shares of the company’s stock valued at $1,342,000 after purchasing an additional 2,600 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Hinge Health in the 1st quarter worth about $292,000. Emerald Mutual Fund Advisers Trust bought a new stake in Hinge Health in the first quarter worth about $7,009,000. Finally, Emerald Advisers LLC purchased a new position in shares of Hinge Health during the first quarter valued at approximately $10,754,000.

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.