Hinge Health (NYSE:HNGE) Stock Price Down 8.6% – What’s Next?

Shares of Hinge Health Inc. (NYSE:HNGE) were down 8.6% during trading on Friday . The stock traded as low as $37.15 and last traded at $36.7050. Approximately 698,009 shares changed hands during trading, a decline of 45% from the average daily volume of 1,263,011 shares. The stock had previously closed at $40.18.

Analyst Ratings Changes

Several research analysts have issued reports on HNGE shares. Royal Bank Of Canada lifted their price target on shares of Hinge Health from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Evercore set a $50.00 price objective on Hinge Health and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Canaccord Genuity Group decreased their target price on Hinge Health from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. KeyCorp set a $55.00 target price on Hinge Health in a research report on Wednesday, February 11th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $65.00 target price on shares of Hinge Health in a report on Wednesday, February 11th. One 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 issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

Hinge Health Price Performance

The firm has a market cap of $2.85 billion and a price-to-earnings ratio of -2.83. The stock’s fifty day moving average price is $40.57 and its 200-day moving average price is $46.15.

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

Insiders Place Their Bets

In other news, CEO Daniel Antonio Perez sold 166,665 shares of Hinge Health stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $40.26, for a total transaction of $6,709,932.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $45.32, for a total value of $7,553,303.12. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 526,002 shares of company stock worth $23,092,172.

Hedge Funds Weigh In On Hinge Health

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in shares of Hinge Health during the second quarter worth approximately $43,840,000. Seven Grand Managers LLC acquired a new position in Hinge Health in the 2nd quarter valued at approximately $12,938,000. American Century Companies Inc. acquired a new position in Hinge Health in the 2nd quarter valued at approximately $27,268,000. Soros Fund Management LLC purchased a new stake in Hinge Health in the 2nd quarter worth approximately $3,881,000. Finally, Vanguard Group Inc. lifted its position in Hinge Health by 22.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock worth $60,753,000 after buying an additional 228,234 shares in the last quarter.

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.