Hinge Health Inc. $HNGE Shares Bought by BIT Capital GmbH

BIT Capital GmbH boosted its position in Hinge Health Inc. (NYSE:HNGE) by 144.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,849,524 shares of the company’s stock after buying an additional 1,093,320 shares during the period. Hinge Health makes up 3.1% of BIT Capital GmbH’s holdings, making the stock its 10th biggest holding. BIT Capital GmbH owned about 2.36% of Hinge Health worth $90,775,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of Hinge Health in the 2nd quarter valued at about $310,000. Strategic Blueprint LLC acquired a new position in Hinge Health in the second quarter valued at approximately $346,000. Emerald Advisers LLC bought a new position in shares of Hinge Health during the 2nd quarter worth approximately $108,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Hinge Health during the 2nd quarter worth approximately $114,000. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Hinge Health during the 2nd quarter worth approximately $3,089,000.

Insider Activity

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $47.76, for a total value of $79,016,054.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Budge sold 10,491 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $48.41, for a total value of $507,869.31. Following the sale, the chief financial officer directly owned 441,174 shares of the company’s stock, valued at approximately $21,357,233.34. This represents a 2.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,224,520 shares of company stock worth $104,894,914.

Analyst Upgrades and Downgrades

A number of research firms have commented on HNGE. Canaccord Genuity Group reduced their price target on shares of Hinge Health from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $59.00 target price on shares of Hinge Health in a report on Wednesday, February 11th. Citizens Jmp restated a “market outperform” rating and set a $65.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. Evercore set a $50.00 price objective on shares of Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, KeyCorp set a $55.00 price objective on shares of Hinge Health in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.73.

Hinge Health Price Performance

NYSE HNGE opened at $41.94 on Friday. The company has a fifty day moving average price of $42.78 and a 200-day moving average price of $48.62. The firm has a market cap of $3.30 billion and a price-to-earnings ratio of -3.27. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $62.18.

Hinge Health declared that its board has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.