Apis Capital Advisors LLC Invests $6.41 Million in Hinge Health Inc. $HNGE

Apis Capital Advisors LLC purchased a new position in shares of Hinge Health Inc. (NYSE:HNGE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 138,000 shares of the company’s stock, valued at approximately $6,410,000. Hinge Health accounts for 1.1% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Apis Capital Advisors LLC owned about 0.18% of Hinge Health as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in 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 acquiring an additional 336 shares during the period. First Horizon Corp raised its position in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares in the last quarter. Sandler Capital Management raised its position in Hinge Health by 1.4% in the 3rd quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after purchasing an additional 728 shares in the last quarter. Jones Financial Companies Lllp raised its position in Hinge Health by 348.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after purchasing an additional 870 shares in the last quarter. Finally, Strategic Blueprint LLC raised its position in Hinge Health by 8.0% in the 4th quarter. Strategic Blueprint LLC now owns 12,319 shares of the company’s stock valued at $572,000 after purchasing an additional 915 shares in the last quarter.

Analyst Ratings Changes

HNGE has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Barclays increased their price target on Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Raymond James Financial increased their price target on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday. Finally, KeyCorp raised their target price on Hinge Health from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.13.

Insider Transactions at Hinge Health

In other news, President James Pursley sold 16,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $860,640.00. Following the completion of the transaction, the president directly owned 780,223 shares of the company’s stock, valued at $41,968,195.17. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 5,907 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $317,737.53. Following the completion of the transaction, the chief financial officer directly owned 445,386 shares of the company’s stock, valued at approximately $23,957,312.94. This trade represents a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 554,600 shares of company stock valued at $29,859,068 in the last three months. 18.92% of the stock is owned by company insiders.

Hinge Health Trading Down 1.1%

Shares of HNGE stock opened at $67.07 on Thursday. The business’s 50 day moving average is $52.21 and its two-hundred day moving average is $46.39. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $70.72. The company has a market capitalization of $5.19 billion and a P/E ratio of -5.44.

Hinge Health (NYSE:HNGE) last issued 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 net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million for the quarter. During the same quarter last year, the firm earned $1.30 earnings per share. The company’s revenue was up 47.2% compared to the same quarter last year. As a group, equities analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Hinge Health 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.