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…
