1492 Capital Management LLC Buys New Stake in Hinge Health Inc. $HNGE

1492 Capital Management LLC purchased a new position in Hinge Health Inc. (NYSE:HNGE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,567 shares of the company’s stock, valued at approximately $1,333,000.

A number of other hedge funds also recently bought and sold shares of HNGE. Marshall Wace LLP bought a new stake in shares of Hinge Health in the 2nd quarter worth about $367,000. Sei Investments Co. bought a new position in shares of Hinge Health in the 2nd quarter valued at about $869,000. Squarepoint Ops LLC purchased a new position in Hinge Health in the second quarter worth about $19,706,000. Raymond James Financial Inc. purchased a new position in Hinge Health in the second quarter worth about $3,258,000. Finally, Sandia Investment Management LP bought a new stake in Hinge Health during the second quarter worth approximately $657,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on HNGE. Wells Fargo & Company upped their price objective on Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday. Barclays boosted their target price on Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Evercore restated an “outperform” rating and set a $45.00 price target on shares of Hinge Health in a report on Wednesday, April 8th. Stifel Nicolaus set a $79.00 price target on Hinge Health in a research report on Wednesday, June 10th. Finally, Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.80.

Hinge Health Stock Performance

HNGE opened at $78.84 on Friday. The stock has a market cap of $6.10 billion and a price-to-earnings ratio of -6.39. The stock’s 50 day moving average price is $56.92 and its 200-day moving average price is $47.55. Hinge Health Inc. has a one year low of $30.08 and a one year high of $79.26.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results 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 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 quarter in the previous year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Hinge Health

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman owned 83,334 shares in the company, valued at $5,018,373.48. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total value of $5,759,328.96. Following the sale, the chief executive officer owned 35,470 shares of the company’s stock, valued at approximately $1,954,042.30. This trade represents a 74.67% 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 1,497,279 shares of company stock valued at $97,492,856 in the last quarter. 18.92% of the stock is owned by insiders.

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.