Divisadero Street Capital Management LP Takes Position in Hinge Health Inc. $HNGE

Divisadero Street Capital Management LP acquired a new position in shares of Hinge Health Inc. (NYSE:HNGE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 60,654 shares of the company’s stock, valued at approximately $2,977,000. Divisadero Street Capital Management LP owned approximately 0.08% of Hinge Health at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BIT Capital GmbH raised its stake in Hinge Health by 144.6% during the 3rd quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock worth $90,775,000 after buying an additional 1,093,320 shares during the period. Bamco Inc. NY acquired a new stake in Hinge Health in the second quarter valued at approximately $48,943,000. Braidwell LP acquired a new stake in Hinge Health in the third quarter valued at approximately $44,686,000. JPMorgan Chase & Co. bought a new stake in shares of Hinge Health during the second quarter valued at approximately $43,840,000. Finally, Franklin Resources Inc. acquired a new position in shares of Hinge Health during the second quarter worth approximately $28,462,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HNGE shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Hinge Health in a report on Thursday, January 22nd. Barclays decreased their price target on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Wells Fargo & Company began coverage on shares of Hinge Health in a research note on Thursday, January 8th. They issued an “overweight” rating and a $68.00 price objective on the stock. Freedom Capital upgraded shares of Hinge Health to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Piper Sandler decreased their target price on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, January 9th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

Insiders Place Their Bets

In other news, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $45.32, for a total value of $7,553,303.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President James Pursley sold 15,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $48.40, for a total value of $726,000.00. Following the sale, the president directly owned 769,778 shares of the company’s stock, valued at $37,257,255.20. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 525,487 shares of company stock worth $23,227,028 over the last 90 days.

Hinge Health Price Performance

Shares of HNGE stock opened at $45.00 on Monday. The firm has a 50-day moving average of $41.55 and a 200-day moving average of $47.10. Hinge Health Inc. has a one year low of $30.08 and a one year high of $62.18. The company has a market cap of $3.54 billion and a P/E ratio of -3.51.

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

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.