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 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 transaction, the chairman directly owned 83,333 shares of the company’s stock, valued at $4,482,482.07. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Stock Up 2.1%

HNGE opened at $54.72 on Friday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $62.18. The company has a fifty day moving average of $45.82 and a 200-day moving average of $44.59. The stock has a market cap of $4.23 billion and a PE ratio of -4.43.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data 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 company had revenue of $182.31 million during the quarter. During the same quarter last year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. Sell-side analysts anticipate that Hinge Health Inc. will post 1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Hinge Health from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Evercore reiterated an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Citigroup reiterated an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $95.00 price objective on shares of Hinge Health in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.40.

Institutional Investors Weigh In On Hinge Health

A number of large investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its holdings in shares of Hinge Health by 35.2% during the first quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock valued at $738,000 after buying an additional 4,986 shares during the last quarter. Estuary Capital Management LP acquired a new position in shares of Hinge Health during the first quarter valued at about $15,201,000. Lazard Asset Management LLC grew its holdings in shares of Hinge Health by 0.6% during the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after buying an additional 386 shares during the last quarter. Entropy Technologies LP grew its holdings in shares of Hinge Health by 28.1% during the first quarter. Entropy Technologies LP now owns 11,749 shares of the company’s stock valued at $453,000 after buying an additional 2,579 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Hinge Health by 225.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after buying an additional 806,007 shares during the last quarter.

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.