Capelight Capital Asset Management LP Purchases New Shares in Hinge Health Inc. $HNGE

Key Points

• Capelight Capital Asset Management acquired 19,000 Hinge Health shares worth approximately $1.85 million during the third quarter. Other institutional investors, including Assenagon, Arrowstreet and Wellington, also significantly increased their holdings.
• Hinge Health reported quarterly EPS of $0.59, exceeding the $0.28 consensus estimate, while revenue reached $212.82 million, up 53% year over year. Shares opened at $111.47, near their 52-week high, giving the company an approximately $8.99 billion market capitalization.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $107 price target, although recent insider activity included substantial sales by the chairman and CFO under pre-arranged Rule 10b5-1 plans.

Capelight Capital Asset Management LP acquired a new stake in Hinge Health Inc. (NYSE:HNGE - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,000 shares of the company's stock, valued at approximately $1,848,000.

Several other hedge funds also recently added to or reduced their stakes in HNGE. 11.2 Capital Management LLC purchased a new stake in Hinge Health in the second quarter valued at $204,566,531. Assenagon Asset Management S.A. increased its position in shares of Hinge Health by 2,141.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company's stock worth $180,373,000 after purchasing an additional 1,772,182 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock worth $44,852,000 after purchasing an additional 806,007 shares during the last quarter. Wellington Management Group LLP raised its holdings in Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock valued at $100,063,000 after buying an additional 758,594 shares during the period. Finally, Estuary Capital Management LP purchased a new stake in Hinge Health in the 1st quarter valued at about $15,201,000.

Hinge Health Stock Down 0.0%

Shares of HNGE opened at $111.47 on Monday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $113.48. The firm's 50 day moving average price is $95.56 and its 200 day moving average price is $76.17. The company has a market cap of $8.99 billion, a P/E ratio of 87.09 and a beta of 1.37.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.28 by $0.31. The company had revenue of $212.82 million during the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business's quarterly revenue was up 53.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. Research analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

HNGE has been the subject of several research analyst reports. Evercore reaffirmed an "outperform" rating and set a $105.00 target price on shares of Hinge Health in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $105.00 price target on shares of Hinge Health in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Hinge Health from $75.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Barclays upped their price objective on shares of Hinge Health from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Finally, KeyCorp increased their price objective on shares of Hinge Health from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.00.

Insider Buying and Selling

In related news, Chairman Gabriel Mecklenburg sold 200,000 shares of the business's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the completion of the transaction, the chairman directly owned 200,000 shares of the company's stock, valued at $20,626,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 47,720 shares of the company's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $103.13, for a total value of $4,921,363.60. Following the sale, the chief financial officer owned 296,728 shares in the company, valued at approximately $30,601,558.64. This trade represents a 13.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,024,581 shares of company stock valued at $95,632,761 in the last three months. 18.92% of the stock is currently owned by insiders.

Hinge Health Profile

Hinge Health is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care programs designed to help members manage pain, improve mobility and reduce the need for more costly or invasive treatments.

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.

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