Insider Selling: Hinge Health (NYSE:HNGE) President Sells 15,000 Shares of 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 stock was sold at an average price of $42.26, for a total transaction of $633,900.00. Following the completion of the sale, the president owned 732,104 shares in the company, valued at approximately $30,938,715.04. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Hinge Health Trading Down 2.6%

NYSE:HNGE opened at $41.03 on Wednesday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $62.18. The company has a 50-day moving average of $40.85 and a 200-day moving average of $46.46. The firm has a market cap of $3.23 billion and a price-to-earnings ratio of -3.20.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on HNGE. Royal Bank Of Canada upped their price target on Hinge Health from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Wells Fargo & Company initiated coverage on Hinge Health in a research note on Thursday, January 8th. They set an “overweight” rating and a $68.00 price objective for the company. KeyCorp set a $55.00 target price on Hinge Health in a report on Wednesday, February 11th. Citizens Jmp reaffirmed a “market outperform” rating and set a $65.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $59.00 price target on shares of Hinge Health in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.07.

Institutional Investors Weigh In On Hinge Health

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in shares of Hinge Health by 204.9% in the 4th quarter. Hsbc Holdings PLC now owns 30,460 shares of the company’s stock valued at $1,411,000 after acquiring an additional 20,469 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health in the 4th quarter worth approximately $26,000. Alpine Woods Capital Investors LLC purchased a new position in Hinge Health during the 4th quarter worth approximately $1,947,000. Voloridge Investment Management LLC acquired a new stake in Hinge Health during the 4th quarter valued at $25,541,000. Finally, Wellington Management Group LLP acquired a new stake in Hinge Health during the 4th quarter valued at $16,772,000.

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.