Hinge Health (NYSE:HNGE) President Sells $633,900.00 in Stock

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 15,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $42.26, for a total transaction of $633,900.00. Following the transaction, the president directly owned 732,104 shares of the company’s stock, valued at $30,938,715.04. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hinge Health Trading Down 2.6%

NYSE HNGE opened at $41.03 on Wednesday. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $62.18. The stock has a market cap of $3.23 billion and a price-to-earnings ratio of -3.20. The company has a 50-day moving average price of $40.85 and a two-hundred day moving average price of $46.46.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million for the quarter, compared to the consensus estimate of $157.31 million. The firm’s revenue was up 45.5% compared to the same quarter last year.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Hinge Health by 160.0% during 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 bought a new stake in shares of Hinge Health in the 4th quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Hinge Health in the 3rd quarter worth $37,000. First Horizon Corp lifted its holdings in shares of Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in Hinge Health during the third quarter valued at about $49,000.

Analyst Upgrades and Downgrades

HNGE has been the topic of several recent analyst reports. Piper Sandler cut their target price on Hinge Health from $71.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, January 9th. Citizens Jmp reissued a “market outperform” rating and issued a $65.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. Canaccord Genuity Group lowered their price target on Hinge Health from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Stifel Nicolaus set a $59.00 price objective on shares of Hinge Health in a report on Thursday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $59.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.07.

Hinge Health Company Profile

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.