Hinge Health (NYSE:HNGE) Stock Price Down 4.5% - Here's What Happened

Hinge Health Inc. (NYSE:HNGE - Get Free Report) shares fell 4.5% during mid-day trading on Tuesday . The company traded as low as $44.50 and last traded at $45.15. 272,965 shares traded hands during trading, a decline of 72% from the average session volume of 966,781 shares. The stock had previously closed at $47.26.

Analysts Set New Price Targets

A number of research firms have issued reports on HNGE. JMP Securities began coverage on shares of Hinge Health in a report on Monday, July 14th. They set a "market outperform" rating and a $58.00 price objective on the stock. Royal Bank Of Canada began coverage on shares of Hinge Health in a report on Monday, June 16th. They issued an "outperform" rating and a $45.00 price target on the stock. William Blair began coverage on shares of Hinge Health in a report on Monday, June 16th. They issued an "outperform" rating on the stock. Evercore ISI began coverage on shares of Hinge Health in a report on Monday, June 16th. They issued an "outperform" rating and a $50.00 price target on the stock. Finally, KeyCorp boosted their price target on shares of Hinge Health from $45.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $49.36.

Hinge Health Trading Down 1.2%

Institutional Trading of Hinge Health

An institutional investor recently bought a new position in Hinge Health stock. CHURCHILL MANAGEMENT Corp bought a new position in Hinge Health Inc. (NYSE:HNGE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,996 shares of the company's stock, valued at approximately $828,000.

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.