Walleye Capital LLC Cuts Holdings in Hinge Health Inc. $HNGE

Walleye Capital LLC decreased its holdings in Hinge Health Inc. (NYSE:HNGE) by 79.3% in the first quarter, Holdings Channel reports. The firm owned 106,849 shares of the company’s stock after selling 409,727 shares during the quarter. Walleye Capital LLC’s holdings in Hinge Health were worth $4,120,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BIT Capital GmbH boosted its position in shares of Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after buying an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 buying an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC raised its position 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 worth $83,877,000 after buying an additional 1,253,743 shares during the last quarter. Marshall Wace LLP purchased a new position in Hinge Health in the 4th quarter worth about $54,469,000. Finally, Millennium Management LLC lifted its stake in 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 acquiring an additional 1,024,317 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HNGE. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Truist Financial raised their target price on shares of Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Barclays lifted their target price on shares of Hinge Health from $70.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada boosted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.27.

Hinge Health Stock Down 6.3%

Hinge Health stock opened at $79.01 on Thursday. The business has a 50-day simple moving average of $70.69 and a two-hundred day simple moving average of $52.37. The company has a market cap of $6.11 billion, a P/E ratio of -6.40 and a beta of 1.13. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $91.50.

Hinge Health (NYSE:HNGE) last issued 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 firm had revenue of $182.31 million for the quarter. During the same quarter last year, the company earned $1.30 EPS. Hinge Health’s revenue for the quarter was up 47.2% on a year-over-year basis. Research analysts anticipate that Hinge Health Inc. will post 1.37 EPS for the current fiscal year.

Insider Activity at Hinge Health

In other Hinge Health news, President James Pursley sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the sale, the president directly owned 740,897 shares of the company’s stock, valued at approximately $51,351,571.07. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing 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. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the transaction, the chairman owned 83,334 shares in the company, valued at $7,087,556.70. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,921,100 shares of company stock worth $299,222,881. 18.92% of the stock is owned by company insiders.

Hinge Health 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.