Pathway Capital Management LP Makes New $7.73 Million Investment in Hinge Health Inc. $HNGE

Pathway Capital Management LP bought a new stake in Hinge Health Inc. (NYSE:HNGE) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 79,492 shares of the company’s stock, valued at approximately $7,730,000. Hinge Health accounts for about 39.6% of Pathway Capital Management LP’s investment portfolio, making the stock its 2nd biggest position. Pathway Capital Management LP owned approximately 0.10% of Hinge Health at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. 11.2 Capital Management LLC purchased a new stake in shares of Hinge Health in the second quarter valued at about $204,566,531. Assenagon Asset Management S.A. raised its stake in shares of Hinge Health by 2,141.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock worth $180,373,000 after buying an additional 1,772,182 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after buying an additional 758,594 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after acquiring an additional 806,007 shares during the last quarter. Finally, Estuary Capital Management LP purchased a new position in Hinge Health during the 1st quarter valued at about $15,201,000.

Hinge Health Stock Down 0.2%

Shares of HNGE opened at $114.06 on Monday. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 89.11 and a beta of 1.37. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $117.55. The company’s fifty day moving average is $98.13 and its 200-day moving average is $67.01.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The company had revenue of $212.82 million during the quarter. During the same period in the prior year, the firm earned $0.59 EPS. Hinge Health’s quarterly revenue was up 53.0% on a year-over-year basis. As a group, research analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citizens Jmp upped their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Stifel Nicolaus increased their target price on Hinge Health from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Zacks Research downgraded shares of Hinge Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Evercore reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Hinge Health in a report on Wednesday, August 5th. Finally, Robert W. Baird raised their target price on Hinge Health from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Insider Activity

In related news, President James Pursley sold 33,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the completion of the transaction, the president directly owned 706,235 shares in the company, valued at $62,183,991.75. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 150,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the completion of the sale, the chief executive officer directly owned 35,470 shares in the company, valued at $3,172,436.80. This trade represents a 80.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,024,581 shares of company stock worth $95,632,761 in the last 90 days. Insiders own 18.92% of the company’s stock.

Hinge Health Company Profile

Hinge Health is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care programs designed to help members manage pain, improve mobility and reduce the need for more costly or invasive treatments.

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.