Insider Selling: Hinge Health (NYSE:HNGE) Chairman Sells 50,000 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $38.46, for a total transaction of $1,923,000.00. Following the sale, the chairman directly owned 50,000 shares in the company, valued at approximately $1,923,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gabriel M.I. Mecklenburg also recently made the following trade(s):

• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Price Performance

Hinge Health stock traded up $0.63 during midday trading on Thursday, reaching $39.12. 475,882 shares of the company traded hands, compared to its average volume of 1,021,723. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $62.18. The business has a 50 day moving average of $40.26 and a two-hundred day moving average of $45.69. The firm has a market capitalization of $3.08 billion and a price-to-earnings ratio of -3.05.

Hinge Health (NYSE:HNGE) last posted 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 company had revenue of $170.73 million during the quarter, compared to the consensus estimate of $157.31 million. The firm’s revenue was up 45.5% on a year-over-year basis.

Institutional Investors Weigh In On Hinge Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its holdings in Hinge Health by 204.9% during the fourth quarter. Hsbc Holdings PLC now owns 30,460 shares of the company’s stock valued at $1,411,000 after purchasing an additional 20,469 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hinge Health in the fourth quarter worth $26,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of Hinge Health in the fourth quarter worth $1,947,000. Voloridge Investment Management LLC bought a new stake in shares of Hinge Health during the 4th quarter valued at $25,541,000. Finally, Wellington Management Group LLP purchased a new position in shares of Hinge Health during the 4th quarter valued at $16,772,000.

Wall Street Analyst Weigh In

HNGE has been the subject of a number of recent research reports. Wells Fargo & Company started coverage on Hinge Health in a research note on Thursday, January 8th. They set an “overweight” rating and a $68.00 price target for the company. Royal Bank Of Canada increased their price objective on shares of Hinge Health from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Evercore set a $50.00 price objective on shares of Hinge Health and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Canaccord Genuity Group cut their target price on shares of Hinge Health from $65.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Finally, Wall Street Zen raised shares of Hinge Health from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hinge Health has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

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.