Gabriel M.I. Mecklenburg Sells 50,000 Shares of Hinge Health (NYSE:HNGE) Stock

Key Points

• Chairman Gabriel M.I. Mecklenburg sold 50,000 Hinge Health shares on June 5 at an average price of $65.54, totaling about $3.28 million. The sale cut his direct stake by 50% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Mecklenburg has been an active seller in recent weeks, including multiple transactions in April and June that together totaled hundreds of thousands of shares. The recent cluster of sales suggests a steady reduction in his holdings.
• Hinge Health shares were trading near their 12-month high at $63.48, and the stock has risen on the back of stronger results. The company recently beat quarterly earnings estimates, with revenue up 47.2% year over year, while analysts currently rate the stock Moderate Buy with a consensus target of $67.53.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $65.54, for a total transaction of $3,277,000.00. Following the completion of the transaction, the chairman directly owned 50,000 shares of the company's stock, valued at $3,277,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gabriel M.I. Mecklenburg also recently made the following trade(s):

• On Monday, June 1st, Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock. The stock was sold at an average price of $60.22, for a total transaction of $5,018,373.48.
• On Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total transaction of $4,482,482.07.
• On Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $55.01, for a total transaction of $2,750,500.00.
• On Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The stock was sold at an average price of $45.05, for a total transaction of $1,501,651.65.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were sold at an average price of $38.46, for a total transaction of $1,923,000.00.

Hinge Health Price Performance

Shares of HNGE traded up $0.50 during trading hours on Friday, reaching $63.48. 2,407,733 shares of the company traded hands, compared to its average volume of 1,487,050. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $66.55. The business has a fifty day moving average price of $47.93 and a 200-day moving average price of $45.31.

Hinge Health (NYSE:HNGE - Get Free Report) last announced 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 firm had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. Hinge Health's quarterly revenue was up 47.2% compared to the same quarter last year. During the same period last year, the firm earned $1.30 earnings per share. On average, equities research analysts predict that Hinge Health Inc. will post 1.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HNGE shares. Wells Fargo & Company boosted their price objective on shares of Hinge Health from $68.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Canaccord Genuity Group boosted their price objective on shares of Hinge Health from $63.00 to $65.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings upgraded shares of Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 6th. Truist Financial set a $79.00 target price on shares of Hinge Health in a research report on Wednesday, May 6th. Finally, Citigroup restated an "outperform" rating on shares of Hinge Health in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hinge Health presently has an average rating of "Moderate Buy" and a consensus price target of $67.53.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Hinge Health by 35.2% in the first quarter. California State Teachers Retirement System now owns 19,141 shares of the company's stock worth $738,000 after acquiring an additional 4,986 shares during the period. Estuary Capital Management LP acquired a new position in shares of Hinge Health in the first quarter worth about $15,201,000. Lazard Asset Management LLC raised its position in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company's stock worth $2,456,000 after acquiring an additional 386 shares during the period. Entropy Technologies LP raised its position in shares of Hinge Health by 28.1% in the first quarter. Entropy Technologies LP now owns 11,749 shares of the company's stock worth $453,000 after acquiring an additional 2,579 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Hinge Health by 225.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock worth $44,852,000 after acquiring an additional 806,007 shares during the period.

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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