$Hims & Hers Health (HIMS.US)$ shares are trading higher Monday. The company is set to join to the S&P SmallCap 600 this week.
Hims & Hers Health shares are moving higher in anticipation of the company joining the S&P SmallCap 600 prior to the opening of trading on Wednesday. Hims & Hers Health shares jumped about 5% on the announcement late last week.
Hims & Hers will replace Vector Group, which is being acquired by JT Group in a deal expected to close pending final conditions.
Hims & Hers Health shares also appear to be bouncing back after falling toward the end of last week after the U.S. Food and Drug Administration removed Eli Lilly's Mounjaro and Zepbound from the weight-loss and diabetes drugs shortage list.
The FDA said in a statement last week that Eli Lilly's supply can now keep up with current demand. Mounjaro had been on the regulator's shortage list since late 2022. Zepbound had been on the list since April. Hims & Hers Health shares fell on the news as the company sells cheaper versions, known as compounded drugs.
