Hinge Health (NYSE:HNGE) Shares Gap Up – Should You Buy?

Hinge Health Inc. (NYSE:HNGE)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $62.78, but opened at $65.17. Hinge Health shares last traded at $64.5610, with a volume of 134,875 shares traded.

Analyst Upgrades and Downgrades

HNGE has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group boosted their price target on shares of Hinge Health from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $70.00 price target on shares of Hinge Health in a research report on Wednesday, May 6th. Evercore reissued an “outperform” rating and issued a $45.00 price target on shares of Hinge Health in a research report on Wednesday, April 8th. Finally, Weiss Ratings raised shares of 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, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

Hinge Health Stock Up 2.0%

The firm has a market cap of $4.96 billion and a price-to-earnings ratio of -5.19. The stock has a fifty day moving average price of $48.92 and a 200-day moving average price of $45.63.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business had revenue of $182.31 million for the quarter. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, research analysts expect that Hinge Health Inc. will post 1.21 earnings per share for the current year.

Insider Transactions at Hinge Health

In other news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the transaction, the chairman directly owned 83,334 shares in the company, valued at $5,018,373.48. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the transaction, the chief executive officer owned 35,470 shares in the company, valued at approximately $1,954,042.30. This trade represents a 74.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 554,600 shares of company stock worth $29,859,068 over the last ninety days. 18.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HNGE. Wells Fargo & Company MN grew its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter worth about $26,000. First Horizon Corp grew its position in Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the period. CENTRAL TRUST Co acquired a new position in Hinge Health during the first quarter worth about $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Hinge Health during the third quarter worth about $49,000.

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.