Insight Holdings Group, Llc Sells 65,581 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $70.36, for a total value of $4,614,279.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Hinge Health Stock Performance

Hinge Health stock opened at $69.36 on Monday. The stock has a market capitalization of $5.37 billion and a price-to-earnings ratio of -5.62. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $70.72. The stock’s 50 day moving average price is $53.46 and its two-hundred day moving average price is $46.69.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data 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. 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 firm earned $1.30 EPS. The business’s revenue was up 47.2% compared to the same quarter last year. On average, equities research analysts forecast that Hinge Health Inc. will post 1.33 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Wall Street Zen cut shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Royal Bank Of Canada upped their price objective on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Evercore reiterated an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a research note on Wednesday, April 8th. Finally, Raymond James Financial raised their price target on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.13.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently modified their holdings of the company. BIT Capital GmbH increased its holdings in Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after acquiring an additional 1,466,577 shares during the period. Vanguard Group Inc. lifted its stake in Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after purchasing an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC boosted its holdings in Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after purchasing an additional 1,253,743 shares during the period. Millennium Management LLC grew its position in shares of Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after purchasing an additional 1,024,317 shares in the last quarter. Finally, Braidwell LP grew its position in shares of Hinge Health by 43.3% during the 4th quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock valued at $60,600,000 after purchasing an additional 394,147 shares in the last quarter.

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.