Alkeon Capital Management LLC Purchases 415,093 Shares of Hinge Health Inc. $HNGE

Alkeon Capital Management LLC boosted its position in Hinge Health Inc. (NYSE:HNGE) by 110.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 791,104 shares of the company’s stock after acquiring an additional 415,093 shares during the period. Alkeon Capital Management LLC owned 1.00% of Hinge Health worth $36,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HNGE. Wells Fargo & Company MN raised its stake in Hinge Health by 160.0% in 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 stake 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 acquiring an additional 531 shares during the period. High Point Wealth Management LLC bought a new stake in shares of Hinge Health during the fourth quarter valued at about $46,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Hinge Health during the third quarter valued at about $49,000. Finally, Jones Financial Companies Lllp increased its position in shares of Hinge Health by 348.0% during the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after buying an additional 870 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group upped their price target on Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday. Evercore reiterated an “outperform” rating and set a $45.00 price target on shares of Hinge Health in a research report on Wednesday, April 8th. Royal Bank Of Canada upped their price target on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. KeyCorp upped their price target on Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Truist Financial upped their price target on Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.53.

Hinge Health Trading Up 4.9%

HNGE stock opened at $68.54 on Tuesday. The company’s 50 day moving average is $51.07 and its 200 day moving average is $46.15. The stock has a market cap of $5.30 billion and a price-to-earnings ratio of -5.55. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $68.68.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data 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. 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%. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. As a group, sell-side analysts forecast that Hinge Health Inc. will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman directly owned 83,334 shares in the company, valued at approximately $5,018,373.48. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total transaction of $860,640.00. Following the completion of the transaction, the president owned 780,223 shares in the company, valued at approximately $41,968,195.17. This trade represents a 2.01% 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. Over the last three months, insiders have sold 554,600 shares of company stock worth $29,859,068. Insiders own 18.92% of the company’s stock.

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.