Emerald Mutual Fund Advisers Trust Takes Position in Hinge Health Inc. $HNGE

Emerald Mutual Fund Advisers Trust bought a new position in shares of Hinge Health Inc. (NYSE:HNGE) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 181,766 shares of the company’s stock, valued at approximately $7,009,000. Emerald Mutual Fund Advisers Trust owned approximately 0.23% of Hinge Health at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Wells Fargo & Company MN raised its stake in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Hinge Health during the 4th quarter worth about $26,000. CENTRAL TRUST Co acquired a new position in shares of Hinge Health during the 1st quarter worth about $37,000. First Horizon Corp boosted its position in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after acquiring an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC purchased a new position in shares of Hinge Health in the 4th quarter valued at about $46,000.

Insider Buying and Selling at Hinge Health

In other news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $7,087,556.70. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.20, for a total value of $16,371,209.80. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,954,433 shares of company stock worth $300,724,532. 18.92% of the stock is owned by insiders.

Hinge Health Stock Performance

HNGE opened at $90.03 on Tuesday. Hinge Health Inc. has a one year low of $30.08 and a one year high of $91.50. The stock has a market capitalization of $6.97 billion, a P/E ratio of -7.30 and a beta of 1.13. The business’s 50-day simple moving average is $66.28 and its 200-day simple moving average is $50.48.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. On average, equities research analysts forecast that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HNGE has been the topic of several research analyst reports. Raymond James Financial raised their target price on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Citizens Jmp increased their price target on shares of Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Needham & Company LLC raised their price objective on shares of Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Finally, Evercore restated an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.67.

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.