JPMorgan Chase & Co. Sells 103,089 Shares of Hinge Health Inc. $HNGE

JPMorgan Chase & Co. trimmed its position in shares of Hinge Health Inc. (NYSE:HNGE) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 744,056 shares of the company’s stock after selling 103,089 shares during the quarter. JPMorgan Chase & Co. owned about 0.95% of Hinge Health worth $36,518,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sandler Capital Management raised its stake in shares of Hinge Health by 1.4% during the 3rd quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock worth $2,588,000 after acquiring an additional 728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Hinge Health in the third quarter valued at approximately $37,000. Jones Financial Companies Lllp boosted its stake in Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after acquiring an additional 870 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Hinge Health in the third quarter worth $49,000. Finally, Lisanti Capital Growth LLC grew its holdings in Hinge Health by 2.0% in the third quarter. Lisanti Capital Growth LLC now owns 60,911 shares of the company’s stock worth $2,990,000 after purchasing an additional 1,211 shares during the last quarter.

Insider Activity

In other news, CEO Daniel Antonio Perez sold 166,665 shares of Hinge Health stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $40.26, for a total transaction of $6,709,932.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Budge sold 10,491 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.41, for a total transaction of $507,869.31. Following the sale, the chief financial officer directly owned 441,174 shares in the company, valued at $21,357,233.34. This trade represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 525,487 shares of company stock valued at $23,227,028 in the last quarter.

Hinge Health Stock Down 4.5%

Shares of HNGE stock opened at $42.50 on Friday. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $62.18. The stock has a market cap of $3.35 billion and a PE ratio of -3.32. The business has a 50-day simple moving average of $41.10 and a 200-day simple moving average of $46.73.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.04 by $0.45. The company had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. The firm’s revenue for the quarter was up 45.5% compared to the same quarter last year.

Analyst Ratings Changes

Several brokerages have recently commented on HNGE. KeyCorp set a $55.00 price objective on Hinge Health in a report on Wednesday, February 11th. Barclays reduced their target price on Hinge Health from $60.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Evercore set a $50.00 price target on Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Stifel Nicolaus set a $59.00 price target on Hinge Health in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.