Gabriel M.I. Mecklenburg Sells 83,334 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the sale, the chairman owned 83,334 shares in the company, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a 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 Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The shares were sold at an average price of $53.79, for a total value of $4,482,482.07.
• 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 value 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 value 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 value 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 value of $7,553,303.12.

Hinge Health Stock Performance

Shares of HNGE stock opened at $62.80 on Friday. The stock’s 50-day moving average is $47.46 and its two-hundred day moving average is $45.18. The firm has a market cap of $4.86 billion and a price-to-earnings ratio of -5.09. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $64.30.

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

Wall Street Analyst Weigh In

HNGE has been the subject of a number of research reports. Canaccord Genuity Group lifted their price target on shares of Hinge Health from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citizens Jmp lifted their price target on shares of Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Hinge Health from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler restated 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 assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Hinge Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.53.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake 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 valued at $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health in the 4th quarter worth about $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Hinge Health in the 3rd quarter worth about $37,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health in the 1st quarter worth about $37,000. Finally, First Horizon Corp raised its holdings in shares of Hinge Health by 163.9% in 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.

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.