Renaissance Technologies LLC Has $10.57 Million Holdings in Hinge Health Inc. $HNGE

Renaissance Technologies LLC trimmed its holdings in shares of Hinge Health Inc. (NYSE:HNGE) by 42.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,100 shares of the company’s stock after selling 200,300 shares during the period. Renaissance Technologies LLC’s holdings in Hinge Health were worth $10,569,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BIT Capital GmbH boosted its stake in Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hinge Health by 110.5% in the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC lifted its position in Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after buying an additional 1,253,743 shares in the last quarter. Millennium Management LLC lifted its position in Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after buying an additional 1,024,317 shares in the last quarter. Finally, Braidwell LP grew its holdings in Hinge Health by 43.3% during the 4th quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock worth $60,600,000 after acquiring an additional 394,147 shares during the last quarter.

Insider Buying and Selling

In other news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.20, for a total transaction of $16,371,209.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were 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 trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,921,100 shares of company stock valued at $299,222,881 over the last three months. Company insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $74.85 on Friday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $91.50. The firm has a market capitalization of $5.79 billion, a P/E ratio of -6.07 and a beta of 1.13. The company’s 50 day simple moving average is $73.54 and its 200 day simple moving average is $53.67.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business’s revenue was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. Sell-side analysts expect that Hinge Health Inc. will post 1.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on HNGE shares. Canaccord Genuity Group boosted their target price on shares of Hinge Health from $76.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a report on Wednesday, April 8th. KeyCorp increased their price objective on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Citizens Jmp lifted their target price on Hinge Health from $80.00 to $96.00 and gave the company a “market outperform” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.07.

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.