Gabriel M.I. Mecklenburg Sells 50,000 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $65.54, for a total transaction of $3,277,000.00. Following the completion of the transaction, the chairman owned 50,000 shares of the company’s stock, valued at approximately $3,277,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Monday, June 1st, Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock. The stock was sold at an average price of $60.22, for a total transaction of $5,018,373.48.
• On Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total transaction of $4,482,482.07.
• On Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $55.01, for a total transaction of $2,750,500.00.
• On Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The stock was sold at an average price of $45.05, for a total transaction of $1,501,651.65.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $38.46, for a total transaction of $1,923,000.00.

Hinge Health Stock Up 0.8%

Shares of HNGE traded up $0.50 during mid-day trading on Friday, hitting $63.48. 2,407,733 shares of the company were exchanged, compared to its average volume of 1,487,050. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $66.55. The company has a 50 day moving average of $47.93 and a 200-day moving average of $45.31.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm had revenue of $182.31 million during the quarter. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. Sell-side analysts expect that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on HNGE. Barclays upped their price target on shares of Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Citizens Jmp upped their price objective on shares of Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Needham & Company LLC upped their price objective on shares of Hinge Health from $59.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Evercore reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.53.

Institutional Trading of Hinge Health

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health during the 4th quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Hinge Health during the 3rd quarter worth approximately $37,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health during the 1st quarter worth approximately $37,000. Finally, First Horizon Corp boosted its position in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the period.

Hinge Health Company 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.