34,567 Shares in Hinge Health Inc. $HNGE Bought by 1492 Capital Management LLC

Key Points

• 1492 Capital Management initiated a new position in Hinge Health during the first quarter, buying 34,567 shares valued at about $1.33 million.
• Analysts remain generally positive on HNGE, with several firms raising price targets; the stock currently carries a Moderate Buy consensus and an average target of $75.80.
• Hinge Health reported stronger-than-expected quarterly results, posting $0.45 EPS versus the $0.12 estimate and 47.2% revenue growth year over year, while shares traded near their 52-week high.

1492 Capital Management LLC bought a new stake in Hinge Health Inc. (NYSE:HNGE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,567 shares of the company's stock, valued at approximately $1,333,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets raised its position in Hinge Health by 162.7% in the fourth quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company's stock worth $33,800,000 after acquiring an additional 450,643 shares during the period. Vanguard Group Inc. grew its position in shares of Hinge Health by 22.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company's stock valued at $60,753,000 after acquiring an additional 228,234 shares during the period. UBS Group AG grew its position in shares of Hinge Health by 168.8% during the 4th quarter. UBS Group AG now owns 356,701 shares of the company's stock valued at $16,569,000 after acquiring an additional 223,980 shares during the period. Tudor Investment Corp ET AL increased its stake in shares of Hinge Health by 25.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company's stock worth $18,467,000 after purchasing an additional 77,464 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hinge Health by 755.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company's stock worth $1,271,000 after purchasing an additional 24,155 shares during the period.

Analyst Ratings Changes

A number of analysts have commented on HNGE shares. Wall Street Zen cut Hinge Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 6th. Needham & Company LLC lifted their price objective on Hinge Health from $63.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research note on Wednesday, June 10th. KeyCorp increased their target price on shares of Hinge Health from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Finally, Canaccord Genuity Group raised their target price on shares of Hinge Health from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Two investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.80.

Hinge Health Trading Up 4.9%

Shares of HNGE opened at $78.84 on Friday. The business's 50 day moving average is $56.92 and its 200 day moving average is $47.55. The company has a market capitalization of $6.10 billion and a PE ratio of -6.39. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $79.26.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company earned $1.30 earnings per share. The company's revenue for the quarter was up 47.2% compared to the same quarter last year. Equities research analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, President James Pursley sold 33,000 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the transaction, the president owned 740,897 shares in the company, valued at $51,351,571.07. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 390,917 shares of Hinge Health stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $71.15, for a total value of $27,813,744.55. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,497,279 shares of company stock worth $97,492,856 in the last 90 days. 18.92% of the stock is currently owned by corporate insiders.

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.

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