BIT Capital GmbH Boosts Stake in Hinge Health Inc. $HNGE

BIT Capital GmbH grew its position in shares of Hinge Health Inc. (NYSE:HNGE) by 144.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,849,524 shares of the company’s stock after purchasing an additional 1,093,320 shares during the quarter. Hinge Health accounts for 3.1% of BIT Capital GmbH’s holdings, making the stock its 10th largest holding. BIT Capital GmbH’s holdings in Hinge Health were worth $90,775,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Hinge Health during the third quarter valued at about $37,000. Montag A & Associates Inc. bought a new position in Hinge Health in the 2nd quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new stake in Hinge Health during the 2nd quarter valued at $48,000. Jones Financial Companies Lllp lifted its position in shares of Hinge Health by 348.0% during the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after acquiring an additional 870 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of Hinge Health in the second quarter worth $71,000.

Hinge Health Price Performance

HNGE stock opened at $41.94 on Friday. The firm has a 50 day simple moving average of $42.78 and a two-hundred day simple moving average of $48.62. The stock has a market cap of $3.30 billion and a PE ratio of -3.27. Hinge Health Inc. has a one year low of $30.08 and a one year high of $62.18.

Hinge Health declared that its Board of Directors has approved a share repurchase program on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

HNGE has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price on Hinge Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, February 11th. Freedom Capital upgraded shares of Hinge Health to a “strong-buy” rating in a research report on Thursday, January 22nd. Wells Fargo & Company initiated coverage on shares of Hinge Health in a report on Thursday, January 8th. They set an “overweight” rating and a $68.00 target price on the stock. KeyCorp set a $55.00 target price on shares of Hinge Health in a research note on Wednesday, February 11th. Finally, Barclays reduced 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 report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Insider Transactions at Hinge Health

In other Hinge Health news, CEO Daniel Antonio Perez sold 166,670 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $48.53, for a total transaction of $8,088,495.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $47.76, for a total value of $79,016,054.40. The SEC filing for this sale provides additional information. Insiders sold 2,224,520 shares of company stock worth $104,894,914 in the last three months.

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.