Assenagon Asset Management S.A. Invests $6.87 Million in Hinge Health Inc. $HNGE

Key Points

• Assenagon Asset Management initiated a $6.87 million stake in Hinge Health, purchasing 82,740 shares, while several other institutional investors substantially increased their holdings.
• Hinge Health reported quarterly revenue of $212.82 million, up 53% year over year, and earnings of $0.59 per share—$0.31 above analysts’ expectations.
• Shares opened at $89.08, near their 52-week high, as analysts maintained a generally bullish outlook with a consensus “Moderate Buy” rating and a $100.57 price target; however, insiders sold about $287.9 million of stock over the past three months.

Assenagon Asset Management S.A. bought a new stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 82,740 shares of the company's stock, valued at approximately $6,867,000. Assenagon Asset Management S.A. owned approximately 0.11% of Hinge Health at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BIT Capital GmbH increased its stake in shares of 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 during the period. Vanguard Group Inc. boosted its stake 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 buying an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC increased its holdings in Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company's stock valued at $83,877,000 after buying an additional 1,253,743 shares during the period. Millennium Management LLC raised its stake in shares of Hinge Health by 225.0% in the 4th 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% in the 4th quarter. Braidwell LP now owns 1,304,623 shares of the company's stock valued at $60,600,000 after buying an additional 394,147 shares in the last quarter.

Insiders Place Their Bets

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the transaction, the chairman directly owned 83,334 shares in the company, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,715,194 shares of company stock worth $287,886,932. Insiders own 18.92% of the company's stock.

Hinge Health Stock Performance

Shares of Hinge Health stock opened at $89.08 on Wednesday. The firm has a fifty day moving average of $77.44 and a two-hundred day moving average of $55.70. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 69.59 and a beta of 1.31. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $93.13.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.31. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The business had revenue of $212.82 million during the quarter. During the same quarter in the prior year, the company posted $0.59 EPS. The company's revenue for the quarter was up 53.0% compared to the same quarter last year. As a group, research analysts forecast that Hinge Health Inc. will post 1.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HNGE. Piper Sandler reiterated an "overweight" rating on shares of Hinge Health in a research report on Wednesday, June 10th. Zacks Research upgraded shares of Hinge Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hinge Health in a report on Monday, August 3rd. Evercore reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada boosted their target price on Hinge Health from $75.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Hinge Health has an average rating of "Moderate Buy" and a consensus price target of $100.57.

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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