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Hims & Hers Health Inc. (HIMS) stock came under the spotlight on Friday after the company stated in a U.S. Securities and Exchange Commission (SEC) filing that CEO Andrew Dudum had pared his stake in the telehealth company.
According to an SEC filing on Thursday, Dudum sold 175,661 shares of the company for an aggregate value of about $11 million. The share sale comes a day after the company’s new menopause and perimenopause service launch.
The company officially launched the service on Wednesday, providing women with access to tailored treatment plans for symptoms like hot flashes, mood changes, and sleep issues via its digital platform.
Hims & Hers’ shares were down more than 12% in Friday morning’s trade. The HIMS stock was the top trending equity ticker on Stocktwits at the time of writing. Despite Friday’s decline, retail sentiment around the stock remained in ‘bullish’ territory amid ‘extremely high’ message volume levels.
According to a report by The Wall Street Journal, President Trump announced plans to push for a price reduction of Novo Nordisk’s Ozempic treatment in the U.S. The administration has been in price talks with several drugmakers, and negotiations with Novo Nordisk are still ongoing. Trump suggested that the drug’s cost could be reduced to around $150.
The company is scheduled to report its third-quarter earnings on November 3. It expects Q3 revenue in the range of $570 million to $590 million and an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the range of $60 million to $70 million.
Hims & Hers Health stock has gained over 112% year-to-date and over 138% in the last 12 months.
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