Estuary Capital Management LP Makes New $15.20 Million Investment in Hinge Health Inc. $HNGE

Estuary Capital Management LP bought a new stake in shares of Hinge Health Inc. (NYSE:HNGE) during the 1st quarter, HoldingsChannel.com reports. The firm bought 394,221 shares of the company’s stock, valued at approximately $15,201,000. Hinge Health accounts for 2.5% of Estuary Capital Management LP’s portfolio, making the stock its 20th largest position.

A number of other hedge funds also recently modified their holdings of the business. BIT Capital GmbH boosted its position in shares of Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after buying an additional 1,466,577 shares during the period. Vanguard Group Inc. lifted its stake in Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after acquiring an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC boosted its position in Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after acquiring an additional 1,253,743 shares during the period. Marshall Wace LLP acquired a new stake in Hinge Health during the 4th quarter worth about $54,469,000. Finally, Millennium Management LLC grew its stake in Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after acquiring an additional 1,024,317 shares in the last quarter.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $75.05 on Tuesday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -6.08 and a beta of 1.13. The stock has a 50-day simple moving average of $71.94 and a 200-day simple moving average of $52.97. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $91.50.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. As a group, equities research analysts predict that Hinge Health Inc. will post 1.37 earnings per share for the current year.

Insider Activity

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the sale, the chairman owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the completion of the sale, the chief executive officer owned 35,470 shares of the company’s stock, valued at $1,954,042.30. This represents a 74.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,921,100 shares of company stock worth $299,222,881. 18.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HNGE has been the subject of a number of research analyst reports. KeyCorp increased their price target on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Barclays boosted their price objective on shares of Hinge Health from $70.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Evercore reiterated an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a research note on Wednesday, April 8th. Canaccord Genuity Group lifted their target price on shares of Hinge Health from $76.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Piper Sandler restated an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.07.

Hinge Health 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.