Michael Chi, the Chief Commercial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On January 2, Chi sold 2,055 shares of Class A common stock at a price of $24.62 per share, totaling $50,594. This transaction was part of a pre-established trading plan under Rule 10b5-1, which was adopted on March 1, 2024.
Additionally, Chi exercised stock options to acquire 2,055 shares at a price of $11.53 per share, amounting to $23,694. Following these transactions, Chi directly owns 193,601 shares of Hims & Hers Health. The stock options exercised are subject to a service-based vesting schedule, with 1/48th of the options vesting monthly since April 1, 2023.
In other recent news, Hims & Hers Health has been making significant strides in the digital health sector. Needham & Company has named Hims & Hers as their top pick for 2025, raising their price target on the company’s shares to $31. This adjustment highlights the company’s growth potential, with emphasis on its diverse avenues for growth such as personalized product adoption and an expanding range of weight loss solutions.
Additionally, Hims & Hers Health reported a 77% year-over-year increase in Q3 sales, surpassing $400 million, and forecasted Q4 2024 revenue between $465 million and $470 million. However, the company’s shares fell sharply by 15% following the FDA’s resolution of the tirzepatide injection shortage, which could reshape the market dynamics for obesity drugs.
On the other hand, Morgan Stanley (NYSE:) initiated coverage on Hims & Hers Health with an Overweight rating, citing its strong performance in digital health and direct-to-consumer sectors. Despite potential volatility, the firm suggests the investment case has a favorable risk-reward profile. Furthermore, Hims & Hers Health announced a partnership with Eli Lilly (NYSE:) to streamline access to FDA-approved obesity medication Zepbound.
These developments underscore Hims & Hers Health’s commitment to growth and innovation in the digital health sector. However, the company’s future also hinges on potential FDA leadership ties and the agency’s stance on the compounding of GLP-1 products.
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