Hinge Health (NYSE:HNGE) Sets New 52-Week High on Analyst Upgrade

Hinge Health Inc. (NYSE:HNGE)’s share price hit a new 52-week high during trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $52.00 to $61.00. Canaccord Genuity Group currently has a buy rating on the stock. Hinge Health traded as high as $57.10 and last traded at $54.24, with a volume of 630681 shares. The stock had previously closed at $48.22.

Several other equities research analysts also recently commented on HNGE. Citigroup assumed coverage on shares of Hinge Health in a research note on Monday, July 14th. They set an “outperform” rating for the company. Wall Street Zen upgraded Hinge Health to a “hold” rating in a research note on Monday, June 2nd. Raymond James Financial began coverage on Hinge Health in a research note on Monday, June 16th. They issued an “outperform” rating and a $45.00 price objective for the company. Royal Bank Of Canada started coverage on Hinge Health in a report on Monday, June 16th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Needham & Company LLC raised their price target on shares of Hinge Health from $47.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $55.71.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HNGE. Emerald Advisers LLC purchased a new position in Hinge Health in the 2nd quarter valued at about $108,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Hinge Health during the second quarter valued at approximately $114,000. FNY Investment Advisers LLC purchased a new position in shares of Hinge Health in the second quarter valued at approximately $310,000. Strategic Blueprint LLC acquired a new stake in shares of Hinge Health in the second quarter worth approximately $346,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Hinge Health during the second quarter worth approximately $828,000.

Hinge Health Stock Up 23.7%

The company has a 50-day moving average of $43.86.

About Hinge Health

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.