Summit Creek Advisors LLC Invests $4.97 Million in Hinge Health Inc. $HNGE

Summit Creek Advisors LLC acquired a new position in Hinge Health Inc. (NYSE:HNGE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 59,903 shares of the company’s stock, valued at approximately $4,972,000. Hinge Health makes up 1.7% of Summit Creek Advisors LLC’s holdings, making the stock its 29th largest holding.

Several other large investors also recently added to or reduced their stakes in HNGE. BNP Paribas Financial Markets boosted its position in shares of Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock valued at $33,800,000 after acquiring an additional 450,643 shares during the last quarter. UBS Group AG grew its holdings in shares of Hinge Health by 168.8% during the fourth quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after purchasing an additional 223,980 shares in the last quarter. Royce & Associates LP bought a new position in shares of Hinge Health in the fourth quarter worth approximately $2,091,000. Alkeon Capital Management LLC increased its position in shares of Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after purchasing an additional 415,093 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hinge Health by 755.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock valued at $1,271,000 after purchasing an additional 24,155 shares in the last quarter.

Hinge Health Stock Performance

Shares of HNGE opened at $88.44 on Wednesday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $93.13. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 69.09 and a beta of 1.31. The firm has a 50 day moving average price of $79.99 and a 200-day moving average price of $57.35.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.28 by $0.31. The company had revenue of $212.82 million for the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. Hinge Health’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. As a group, equities research analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Buying and Selling at Hinge Health

In other Hinge Health news, President James Pursley sold 33,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the sale, the president directly owned 740,897 shares in the company, valued at $51,351,571.07. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the transaction, the chairman directly owned 83,334 shares in the company, valued at $7,087,556.70. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,714,413 shares of company stock worth $287,843,711 over the last three months. Company insiders own 18.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HNGE shares. Citizens Jmp lifted their target price on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Stifel Nicolaus set a $96.00 price objective on shares of Hinge Health in a research report on Wednesday, August 5th. Raymond James Financial lifted their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Morgan Stanley upped their target price on shares of Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Wall Street Zen cut Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hinge Health currently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

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.