Hinge Health (NYSE:HNGE) Sets New 12-Month High - Time to Buy?

Key Points

• Hinge Health Inc. shares reached a new 52-week high of $62.18, closing at $61.16, marking a significant increase from the previous close of $59.07.
• Analysts have raised their price targets for Hinge Health, with KeyCorp setting a target of $60.00 and JMP Securities increasing their target to $65.00, indicating strong buy recommendations from multiple firms.
• Institutional investment in Hinge Health is on the rise, with several hedge funds acquiring new stakes during the 2nd quarter, suggesting increased confidence in the company's stock.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $62.18 and last traded at $61.16, with a volume of 285478 shares trading hands. The stock had previously closed at $59.07.

Analysts Set New Price Targets

A number of analysts recently weighed in on HNGE shares. KeyCorp increased their price objective on Hinge Health from $45.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Citizens Jmp started coverage on shares of Hinge Health in a research report on Monday, July 14th. They set a "strong-buy" rating and a $58.00 price target on the stock. JMP Securities lifted their price objective on shares of Hinge Health from $58.00 to $65.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Truist Financial started coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued a "buy" rating and a $48.00 price objective for the company. Finally, Piper Sandler began coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued an "overweight" rating and a $41.00 price objective for the company. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $55.71.

Hinge Health Stock Performance

The stock's 50 day moving average is $46.21.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Montag A & Associates Inc. bought a new stake in shares of Hinge Health during the 2nd quarter worth $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Hinge Health during the 2nd quarter worth $48,000. PNC Financial Services Group Inc. bought a new stake in shares of Hinge Health during the 2nd quarter worth $71,000. Emerald Advisers LLC bought a new stake in shares of Hinge Health during the 2nd quarter worth $108,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Hinge Health during the 2nd quarter worth $114,000.

Hinge Health Company Profile

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.