Summit Creek Advisors LLC Takes Position in Hinge Health Inc. $HNGE

Summit Creek Advisors LLC bought a new position in shares of Hinge Health Inc. (NYSE:HNGE) during the second quarter, according to its most recent filing with the SEC. The fund bought 59,903 shares of the company’s stock, valued at approximately $4,972,000. Hinge Health accounts for 1.7% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Summit Creek Advisors LLC owned about 0.08% of Hinge Health at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Hinge Health during the second quarter worth about $367,000. Sei Investments Co. purchased a new position in Hinge Health in the second quarter valued at about $869,000. Squarepoint Ops LLC purchased a new position in Hinge Health in the second quarter valued at about $19,706,000. Raymond James Financial Inc. bought a new position in shares of Hinge Health during the 2nd quarter valued at approximately $3,258,000. Finally, Sandia Investment Management LP bought a new position in shares of Hinge Health during the 2nd quarter valued at approximately $657,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HNGE shares. Robert W. Baird lifted their price target on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Stifel Nicolaus set a $96.00 price objective on Hinge Health in a report on Wednesday, August 5th. Barclays raised their target price on Hinge Health from $97.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and set a $105.00 price target on shares of Hinge Health in a research report on Wednesday, August 5th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hinge Health has an average rating of “Moderate Buy” and an average price target of $100.57.

Insider Buying and Selling

In other Hinge Health news, President James Pursley sold 33,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total value of $2,287,230.00. Following the completion of the transaction, the president owned 740,897 shares in the company, valued at $51,351,571.07. This trade represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at $7,087,556.70. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,714,413 shares of company stock valued at $287,843,711. Corporate insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

Shares of HNGE stock opened at $88.44 on Wednesday. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 69.09 and a beta of 1.31. The company’s fifty day simple moving average is $79.99 and its two-hundred day simple moving average is $57.35. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $93.13.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The firm had revenue of $212.82 million during the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.Hinge Health’s revenue was up 53.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Equities research analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current year.

Hinge Health Company Profile

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.