Gabriel M.I. Mecklenburg Sells 83,333 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,333 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $4,482,482.07. Following the completion of the sale, the chairman directly owned 83,333 shares in the company, valued at $4,482,482.07. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were 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 shares were 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 shares were sold at an average price of $38.46, for a total transaction of $1,923,000.00.
• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Trading Up 1.0%

Shares of HNGE stock traded up $0.51 during trading hours on Wednesday, hitting $53.49. 990,814 shares of the company’s stock were exchanged, compared to its average volume of 1,735,060. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $62.18. The business’s 50 day simple moving average is $45.61 and its 200-day simple moving average is $44.52.

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

Wall Street Analyst Weigh In

Several research firms have commented on HNGE. Citizens Jmp lifted their price target on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. KeyCorp set a $55.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. Truist Financial set a $79.00 target price on shares of Hinge Health in a report on Wednesday, May 6th. Barclays raised their target price on shares of Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC raised their target price on shares of Hinge Health from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BIT Capital GmbH grew its holdings in shares of Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hinge Health by 110.5% in the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after purchasing an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC grew its holdings in shares of Hinge Health by 227.1% in the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after purchasing an additional 1,024,317 shares during the last quarter. Finally, Braidwell LP grew its holdings in shares of Hinge Health by 43.3% in the fourth quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock worth $60,600,000 after purchasing an additional 394,147 shares during 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.