Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 50,000 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $38.46, for a total value of $1,923,000.00. Following the sale, the chairman directly owned 50,000 shares of the company’s stock, valued at approximately $1,923,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gabriel M.I. Mecklenburg also recently made the following trade(s):

• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Stock Up 1.6%

NYSE:HNGE opened at $39.12 on Friday. The firm has a market capitalization of $3.08 billion and a P/E ratio of -3.05. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $62.18. The company has a fifty day moving average of $40.26 and a 200 day moving average of $45.69.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.45. The firm had revenue of $170.73 million during the quarter, compared to analysts’ expectations of $157.31 million. The business’s revenue for the quarter was up 45.5% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in Hinge Health in the 2nd quarter worth approximately $1,445,000. Norges Bank purchased a new stake in Hinge Health during the 2nd quarter valued at $15,525,000. Walleye Capital LLC bought a new stake in shares of Hinge Health in the 2nd quarter worth $2,357,000. Marshall Wace LLP purchased a new position in shares of Hinge Health in the second quarter worth $367,000. Finally, Diametric Capital LP bought a new position in shares of Hinge Health during the second quarter valued at $375,000.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HNGE shares. Stifel Nicolaus set a $59.00 price target on Hinge Health in a research report on Thursday, February 5th. Wells Fargo & Company initiated coverage on Hinge Health in a research note on Thursday, January 8th. They set an “overweight” rating and a $68.00 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a report on Thursday, January 22nd. KeyCorp set a $55.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. Finally, Evercore set a $50.00 price objective on shares of Hinge Health and gave the stock an “outperform” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and an average price target of $57.07.

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.