Latest news with #digitaltherapy
Yahoo
24-05-2025
- Business
- Yahoo
Why Hinge Health, Inc. (HNGE) Soared Today
We recently published a list of . In this article, we are going to take a look at where Hinge Health, Inc. (NYSE:HNGE) stands against other stocks that soared today. Hinge Health soared by 17.38 percent on its first day as a publicly-listed company, a reflection of strong investor confidence. During the intra-day trading, Hinge Health, Inc. (NYSE:HNGE) opened at $39.25, reached as high as $40.26 or a 25.8-percent upside from its initial public offering (IPO) price of $32, before traders took early profits to pull its stock price slightly lower towards the end. Following the IPO, Hinge Health, Inc. (NYSE:HNGE) successfully raised $273 million from the sale of 8.52 million shares out of the aggregate 13 million shares. A patient undergoing psilocybin therapy in a modern clinic, showing the cutting-edge mental health treatment. According to the company, proceeds from the offer will be used to satisfy tax withholding and remittance obligations related to the net issuance of its Class A and B common shares, in connection with the vesting and settlement of certain restricted stock units and performance-based restricted stock units. Founded in 2014, Hinge Health, Inc. (NYSE:HNGE) is a digital physical therapy startup based in San Francisco, California, which aims to help patients treat acute musculoskeletal injuries, chronic pain, and carry out post-surgery rehabilitation from anywhere. Overall, HNGE ranks 8th on our list of stocks that soared today. While we acknowledge the potential of HNGE, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HNGE and has 10,000% upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Hinge Health pops 17%, but joins growing ranks of down-round IPOs
Hinge Health, a digital physical therapy company, closed its first day of trading on the New York Stock Exchange on Thursday at $37.56, up about 17% over the $32 IPO price it set the previous day. That's a good first-day result. But even with the pop, Hinge's public valuation is significantly less than its last private market one. The 11-year-old company's approximate market capitalization, excluding employee options, was about $3 billion, which is less than half of the $6.2 billion Hinge attained in its October 2021 Series E funding round, which was led by Tiger Global Management. Until recently, companies went to great lengths to avoid down-round IPOs. However, the stigma associated with going public below the last private valuation has lessened significantly if that valuation was during the heady 2020-2021 era. Companies whose IPOs are priced lower than their last private valuation by VCs include Reddit, which debuted last year at about $5.4 billion, roughly half its $10 billion valuation from 2021. Another example is ServiceTitan, whose IPO valued it at about $6.3 billion, below the $7.6 billion valuation it secured in a Series H round two years earlier. Hinge Health's IPO raised $437 million, with about $237 million in proceeds going directly to the company and the remainder to its existing investors. The company's largest outside shareholders are Insight Partners, which holds 19% of all stock, and Atomico, which has 15% of all shares. Other venture capital firms that own approximately 8% of Hinge's shares include 11.2 Capital, Coatue, Tiger Global, and Bessemer Venture Partners, according to the company's latest S-1 filing. Co-founders Daniel Perez and Gabriel Mecklenburg own 18.9% and 8.2%, respectively. The company aims to reduce musculoskeletal pain with the help of wearable sensors and computer vision technology remotely monitored by a clinical care team of physical therapists, physicians, and board-certified health coaches. Omada Health, another digital health company, filed to go public earlier this month. The 13-year-old startup offers virtual care between doctors' visits for chronic conditions like diabetes and hypertension, and competes with Hinge Health in the musculoskeletal pain reduction space. Omada's biggest shareholders include U.S. Venture Partners and Andreessen Horowitz, and was last valued in 2022 at just above $1 billion. Hinge Health's primary competitor is Sword Health, which was valued at $3 billion about a year ago. At that time, Sword Health's CEO, Virgilio Bento, told TechCrunch that the company might also pursue an IPO in 2025 if it grows as expected and the macroeconomic environment is favorable. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Hinge Health Stock Finishes First Trading Session Above IPO Price
Shares of Hinge Health, a digital physical therapy provider, finished their first day of trading above their IPO price but down slightly from where they opened. Hinge, which now trades on the New York Stock Exchange using the ticker "HNGE," had priced its initial public offering (IPO) at $32 per share, at the higher end of its estimated range of $28 to $32. The shares, opened at $39.25 before finishing at $37.56 Thursday. At its intraday high, the stock traded at over $40. Hinge sold 8.52 million shares in the offering, raising roughly $273 million in proceeds. The San Francisco-based company saw first-quarter net income of $17.1 million on revenue that jumped 50% year-over-year to $123.8 million, according to its prospectus filing with the Securities and Exchange Commission. Demand of Hinge Health's shares, along with that for those of Ryan Reynolds-based MNTN, which also debuted Thursday, could point to improving investor appetite for new listings. The market for IPOs picked up in 2024 but failed to catch up to its peak in 2021. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
22-05-2025
- Business
- Bloomberg
Hinge Health Jumps 25% After Top-Priced $437 Million IPO
By and Anthony Hughes Save Hinge Health Inc. shares rose 25% after the digital physical therapy provider and a group of investors raised $437 million in an initial public offering priced at the top of a marketed range. Shares in the San Francisco-based company increased to $40 each as of 1:03 p.m. on Thursday in New York, versus the IPO price of $32 apiece.
Bloomberg
21-05-2025
- Business
- Bloomberg
Insight Partners-Backed Hinge Health IPO Raises $437 Million
Hinge Health Inc. and a group of investors raised $437 million in the digital physical therapy provider's US initial public offering, pricing shares at the top of a marketed range. The company and backers including Tiger Global Management and Insight Partners sold about 13.7 million shares in aggregate for $32 each, according to a statement Wednesday. The shares were offered for $28 to $32 each.
