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

Renaissance Technologies LLC lessened its position in Hinge Health Inc. (NYSE:HNGE - Free Report) by 42.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,100 shares of the company's stock after selling 200,300 shares during the quarter. Renaissance Technologies LLC owned about 0.35% of Hinge Health worth $10,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HNGE. BIT Capital GmbH grew its position 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 valued at $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. grew its holdings in Hinge Health by 110.5% in the 4th 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 grew 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 last quarter. Marshall Wace LLP bought a new position in Hinge Health in the 4th quarter worth approximately $54,469,000. Finally, Millennium Management LLC lifted its holdings in shares of Hinge Health by 225.0% during the fourth 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 during the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on HNGE shares. Royal Bank Of Canada increased their price target on shares of Hinge Health from $65.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, June 11th. Evercore reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Raymond James Financial increased their target price on shares of Hinge Health from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, June 15th. Truist Financial lifted their target price on Hinge Health from $79.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Hinge Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.07.

Insider Buying and Selling at Hinge Health

In other Hinge Health news, President James Pursley sold 33,000 shares of the company's 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 sale, the president directly owned 740,897 shares in the company, valued at $51,351,571.07. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on 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 transaction, the chairman directly owned 83,334 shares of the company's stock, valued at approximately $7,087,556.70. The trade was 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. Over the last ninety days, insiders have sold 3,921,100 shares of company stock valued at $299,222,881. 18.92% of the stock is currently owned by corporate insiders.

Hinge Health Stock Performance

NYSE:HNGE opened at $74.85 on Friday. The company has a 50-day moving average of $73.54 and a 200-day moving average of $53.67. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $91.50. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of -6.07 and a beta of 1.13.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million for the quarter. During the same period in the previous year, the firm earned $1.30 EPS. The business's revenue was up 47.2% compared to the same quarter last year. Sell-side analysts forecast that Hinge Health Inc. will post 1.37 EPS for the current year.

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.

Want to see what other hedge funds are holding HNGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hinge Health Inc. (NYSE:HNGE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.