Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Here’s Why

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped down before the market opened on Thursday . The stock had previously closed at $68.74, but opened at $65.08. Hims & Hers Health shares last traded at $63.33, with a volume of 9,502,094 shares.

Analysts Set New Price Targets

HIMS has been the subject of a number of recent analyst reports. Piper Sandler raised their target price on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Bank of America raised their price objective on shares of Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a research note on Thursday. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $42.00 to $60.00 in a report on Tuesday. Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and raised their price target for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Finally, Needham & Company LLC increased their target price on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.53.

Hims & Hers Health Stock Down 6.1 %

The firm has a 50-day moving average price of $33.94 and a two-hundred day moving average price of $25.19. The company has a market capitalization of $14.10 billion, a P/E ratio of 146.97 and a beta of 1.35.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Soleil Boughton sold 2,343 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total value of $70,055.70. Following the transaction, the insider now owns 165,254 shares of the company’s stock, valued at approximately $4,941,094.60. This trade represents a 1.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Dudum sold 33,513 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the sale, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $1,118,296.76. This trade represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,052,332 shares of company stock valued at $32,620,497 in the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Hims & Hers Health during the fourth quarter worth $99,000. Neo Ivy Capital Management raised its stake in shares of Hims & Hers Health by 145.4% in the 4th quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock valued at $4,031,000 after purchasing an additional 98,798 shares during the period. PharVision Advisers LLC acquired a new position in Hims & Hers Health during the fourth quarter worth $234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Hims & Hers Health by 31.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 340,156 shares of the company’s stock valued at $8,225,000 after acquiring an additional 81,495 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in Hims & Hers Health by 839.2% in the fourth quarter. Two Sigma Advisers LP now owns 524,100 shares of the company’s stock valued at $12,673,000 after purchasing an additional 468,300 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.