Y Intercept Hong Kong Ltd Acquires Shares of 61,850 Hinge Health Inc. $HNGE

Y Intercept Hong Kong Ltd acquired a new position in Hinge Health Inc. (NYSE:HNGE) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 61,850 shares of the company’s stock, valued at approximately $2,385,000.

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

Insider Buying and Selling at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $82.83, for a total value of $121,484,027.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $69.31, for a total value of $2,287,230.00. Following the transaction, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. This represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,528,262 shares of company stock worth $262,276,568 in the last three months. 18.92% of the stock is owned by corporate insiders.

Hinge Health Price Performance

HNGE opened at $88.27 on Thursday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -7.15 and a beta of 1.13. The company’s 50 day simple moving average is $63.58 and its two-hundred day simple moving average is $49.61. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $90.91.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business had revenue of $182.31 million during the quarter. During the same quarter last year, the company earned $1.30 earnings per share. Hinge Health’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, equities analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HNGE has been the topic of a number of research analyst reports. Zacks Research raised shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Needham & Company LLC upped their price objective on shares of Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. KeyCorp increased their price objective on shares of Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen lowered shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.80.

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.