Hinge Health (NYSE:HNGE) Shares Down 7.1% - Should You Sell?

Key Points

• Hinge Health's shares experienced a decline of 7.1%, trading between $55.25 and $56.06, down from a previous close of $60.35.
• A range of analysts have issued ratings on Hinge Health, with JMP Securities raising their price target to $65.00, while Royal Bank of Canada set a target at $45.00.
• Several institutional investors have acquired new stakes in Hinge Health, indicating increasing interest from hedge funds during the second quarter.

Shares of Hinge Health Inc. (NYSE:HNGE - Get Free Report) traded down 7.1% during mid-day trading on Friday . The stock traded as low as $55.25 and last traded at $56.06. 558,015 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 923,376 shares. The stock had previously closed at $60.35.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HNGE shares. JMP Securities increased their price objective on Hinge Health from $58.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Royal Bank Of Canada started coverage on shares of Hinge Health in a research report on Monday, June 16th. They issued an "outperform" rating and a $45.00 price objective on the stock. Bank of America upped their price objective on shares of Hinge Health from $42.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday. KeyCorp lifted their target price on shares of Hinge Health from $45.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Evercore ISI boosted their price target on shares of Hinge Health from $50.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $55.71.

Hinge Health Price Performance

The company's 50-day simple moving average is $44.19.

Institutional Trading of Hinge Health

Several institutional investors and hedge funds have recently modified their holdings of HNGE. Lisanti Capital Growth LLC acquired a new stake in Hinge Health during the second quarter worth approximately $3,089,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Hinge Health during the second quarter worth $828,000. Strategic Blueprint LLC purchased a new stake in shares of Hinge Health in the second quarter valued at $346,000. FNY Investment Advisers LLC purchased a new stake in shares of Hinge Health in the second quarter valued at $310,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Hinge Health in the second quarter valued at $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.

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