Walleye Capital LLC Sells 409,727 Shares of Hinge Health Inc. $HNGE

Key Points

• Walleye Capital LLC cut its Hinge Health stake by 79.3% in the first quarter, selling 409,727 shares and leaving it with 106,849 shares valued at about $4.12 million.
• Insider selling has been significant, including President James Pursley’s 33,000-share sale and Insight Holdings Group’s 181,499-share sale, with insiders selling 3.92 million shares over the past three months.
• Hinge Health’s fundamentals and stock performance remain strong: shares recently traded at $79.01, near their 52-week high of $91.50, while the company beat quarterly earnings estimates and posted 47.2% year-over-year revenue growth.

Walleye Capital LLC trimmed its stake in Hinge Health Inc. (NYSE:HNGE - Free Report) by 79.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,849 shares of the company's stock after selling 409,727 shares during the period. Walleye Capital LLC owned 0.14% of Hinge Health worth $4,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BIT Capital GmbH lifted its holdings in 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 buying an additional 1,466,577 shares during the period. Vanguard Group Inc. grew its holdings in shares of Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company's stock worth $121,027,000 after acquiring an additional 1,367,693 shares during the period. Tiger Global Management LLC grew its holdings in shares of Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company's stock worth $83,877,000 after acquiring an additional 1,253,743 shares during the period. Marshall Wace LLP bought a new position in shares of Hinge Health in the 4th quarter worth approximately $54,469,000. Finally, Millennium Management LLC raised its position 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 worth $68,729,000 after acquiring an additional 1,024,317 shares in the last quarter.

Insider Transactions at Hinge Health

In related news, President James Pursley sold 33,000 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were 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 $51,351,571.07. The trade was a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.20, for a total transaction of $16,371,209.80. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,921,100 shares of company stock valued at $299,222,881. Insiders own 18.92% of the company's stock.

Hinge Health Stock Performance

HNGE stock opened at $79.01 on Thursday. The firm has a 50 day moving average price of $70.69 and a 200-day moving average price of $52.37. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $91.50. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of -6.40 and a beta of 1.13.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm's quarterly revenue was up 47.2% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. As a group, sell-side analysts forecast that Hinge Health Inc. will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their price objective on Hinge Health from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research report on Wednesday, June 10th. Morgan Stanley boosted their target price on shares of Hinge Health from $72.00 to $108.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Finally, Robert W. Baird upped their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hinge Health has a consensus rating of "Moderate Buy" and an average target price of $84.27.

About Hinge Health

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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