$Hims & Hers Health (HIMS.US)$ shares are trading 22% higher on Monday afternoon. Its strength has been attributed to President-elect Donald Trump's plans to nominate Marty Makary to lead the FDA.
Bloomberg reported earlier that a Hunterbrook Media report shared the connection of Makary and Hims & Hers: Makary is an executive at Sesame Inc., a startup that also offers compounded GLP-1 weight loss drugs.
Hunterbrook Capital, the hedge fund behind the report, revealed it is now holding long positions in Hims shares, reversing its June short bet, which had focused on the company’s online sales of compounded GLP-1 injections.
Hims & Hers shares have surged over 200% this year, putting the company on track for its best annual performance since going public.
However, Wall Street remains cautious, with more than half of analysts covering the stock issuing hold or sell ratings, according to Bloomberg data. Nearly 40% of analysts have a buy recommendation for the shares.
