Y Intercept Hong Kong Ltd Invests $2.38 Million in Hinge Health Inc. $HNGE

Y Intercept Hong Kong Ltd acquired a new stake in shares of 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 institutional investor acquired 61,850 shares of the company’s stock, valued at approximately $2,385,000. Y Intercept Hong Kong Ltd owned approximately 0.08% of Hinge Health as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HNGE. Janney Montgomery Scott LLC grew its position in Hinge Health by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after purchasing an additional 300 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the last quarter. First Horizon Corp raised its holdings in shares of Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health during the fourth quarter worth $26,000. Finally, Sandler Capital Management lifted its stake in shares of Hinge Health by 1.4% during the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock worth $2,588,000 after buying an additional 728 shares during the period.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $88.27 on Thursday. The stock has a market cap of $6.83 billion, a PE ratio of -7.15 and a beta of 1.13. The firm has a fifty day moving average price of $63.58 and a 200 day moving average price of $49.61. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $90.91.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. The company had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, equities analysts expect that Hinge Health Inc. will post 1.33 EPS for the current year.

Insider Transactions at Hinge Health

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at $7,087,556.70. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,528,262 shares of company stock worth $262,276,568 over the last quarter. 18.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HNGE has been the topic of several research reports. Truist Financial upped their target price on Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Wells Fargo & Company boosted their price target on Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada increased their price objective on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Robert W. Baird raised their price objective on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hinge Health currently has a consensus rating of “Moderate Buy” and an average price target of $75.80.

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.