Hinge Health Inc. $HNGE is BIT Capital GmbH’s 3rd Largest Position

BIT Capital GmbH increased its position in Hinge Health Inc. (NYSE:HNGE) by 79.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,316,101 shares of the company’s stock after purchasing an additional 1,466,577 shares during the period. Hinge Health accounts for about 5.7% of BIT Capital GmbH’s holdings, making the stock its 3rd biggest holding. BIT Capital GmbH’s holdings in Hinge Health were worth $154,033,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Marshall Wace LLP acquired a new stake in shares of Hinge Health in the 2nd quarter worth approximately $367,000. Sei Investments Co. acquired a new stake in Hinge Health during the 2nd quarter valued at $869,000. Squarepoint Ops LLC acquired a new stake in Hinge Health during the 2nd quarter valued at $19,706,000. Raymond James Financial Inc. acquired a new stake in Hinge Health during the 2nd quarter valued at $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Hinge Health during the second quarter worth $657,000.

More Hinge Health News

Here are the key news stories impacting Hinge Health this week:

• Positive Sentiment: Canaccord Genuity raised its price target on Hinge Health to $65 from $63 and reiterated a buy rating, reinforcing a constructive analyst view on the stock. Article Title
• Positive Sentiment: Other recent commentary also stayed upbeat, including technical coverage pointing to a “golden cross,” which can attract momentum investors. Article Title
• Positive Sentiment: Hinge Health’s last earnings report beat estimates, with revenue up 47.2% year over year, supporting the view that the business is still growing rapidly. Article Title
• Neutral Sentiment: One article highlighted Hinge Health as a promising mid-cap healthcare name, but it did not include a new catalyst beyond a generally favorable long-term investment case. Article Title
• Negative Sentiment: Chairman Gabriel M.I. Mecklenburg disclosed another large insider sale of 50,000 shares at $65.54, adding to a series of recent sales and potentially creating some overhang for sentiment. Article Title

Hinge Health Price Performance

Shares of NYSE:HNGE opened at $63.48 on Friday. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $66.55. The stock has a market cap of $4.91 billion and a price-to-earnings ratio of -5.14. The stock’s 50 day moving average price is $47.93 and its 200 day moving average price is $45.31.

Hinge Health (NYSE:HNGE) last announced its 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 return on equity of 310.62% and a negative net margin of 78.95%.Hinge Health’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. On average, sell-side analysts expect that Hinge Health Inc. will post 1.21 EPS for the current year.

Insiders Place Their Bets

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the transaction, the chairman directly owned 83,334 shares in the company, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of Hinge Health stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the transaction, the chief executive officer owned 35,470 shares in the company, valued at approximately $1,954,042.30. The trade was a 74.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 554,600 shares of company stock worth $29,859,068. Corporate insiders own 18.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HNGE shares. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Truist Financial set a $79.00 price objective on Hinge Health in a research report on Wednesday, May 6th. Wells Fargo & Company raised their price objective on Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.53.

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.