Michael Chi, Chief Commercial Officer, 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 $24.62 per share, for a total of $50,594. This transaction was part of a pre-established Rule 10b5-1 trading plan, which was adopted on March 1, 2024.
In addition, CHI exercised stock options to acquire 2,055 shares at $11.53 per share, for a total of $23,694. Following these transactions, Chi directly owns 193,601 shares in Hims & Hers Health. Stock options exercised are subject to a service-based vesting schedule, with 1/48 of the options vesting monthly since April 1, 2023.
In other recent news, Hims & Hers Health has made big strides in the digital health sector. Needham & Company named Hims & Hers its top pick for 2025, raising its price target on the company’s shares to $31. This adjustment highlights the company’s growth potential, with a focus on diversified growth avenues such as the adoption of personalized products and an expanded range of weight loss solutions.
Additionally, Hims & Hers Health reported a 77% year-over-year increase in third-quarter sales, exceeding $400 million, and forecast fourth-quarter 2024 revenue of between $465 million and $470 million. However, the company’s shares fell sharply by 15% following the FDA decision regarding the shortage of tirzepatide injections, which may reshape the market dynamics of the obesity drug.
On the other hand, Morgan Stanley (NYSE:) initiated coverage of Hims & Hers Health with an Overweight rating, citing its strong performance in the digital health and direct-to-consumer sectors. Despite the potential volatility, the company notes that the investment case has a favorable risk-reward profile. Furthermore, Hims & Hers Health announced a partnership with Eli Lilly (NYSE:) to simplify access to its 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 depends on potential FDA leadership relationships and the agency’s position on the formulation of GLP-1 products.
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