The stake reduction comes as Hims navigates regulatory scrutiny over weight-loss drugs, while expanding into other healthcare categories.
- The bank now holds about 3.88 million shares, down from 17.8 million shares in September 2025.
- Recently, the FDA issued warning letters to 30 telehealth companies over the misleading marketing of compounded GLP-1 weight-loss drugs.
- Hims has faced scrutiny over its $49 compounded weight-loss pill, while Novo Nordisk filed a lawsuit against the company last month.
Shares of Hims & Hers Health, Inc. rose nearly 1% in early premarket trading on Friday, even as a new regulatory filing showed JPMorgan Chase & Co. sharply reduced its stake.
HIMS stock fell over 3% on Thursday to end at $15.88, but rose 0.4% in extended trading. Shares of the telehealth firm are on track to snap a 13-week losing streak.
JPMorgan Cuts Stake
A new regulatory filing showed that JPMorgan held about 3.88 million shares, representing 1.7% of Hims & Hers’ common stock as of Feb. 27, marking a sharp drop from 17.8 million, or about 8.1%, disclosed by the bank as of September 2025.
The new filing indicates JPMorgan reduced its position by roughly 14 million shares, cutting its ownership to below the 5% disclosure threshold.
FDA Scrutiny Over Weight Loss Drugs
The stake reduction comes as the digital health company faces growing regulatory scrutiny tied to its weight-loss offerings. The U.S. Food and Drug Administration (FDA) recently issued warning letters to 30 telehealth companies over false or misleading marketing of compounded GLP-1 weight-loss drugs, including Semaglutide, Tirzepatide and Liraglutide, which are the active ingredients in Novo Nordisk’s Wegovy and Ozempic, and Eli Lilly’s Zepbound and Mounjaro. Hims was also included in an earlier round of warning letters issued in September.
The telehealth firm has also faced scrutiny over its $49 compounded weight-loss pill, while Novo Nordisk filed a lawsuit against the company last month. CEO Andrew Dudum said on the latest earnings call that GLP-1 users who use the compound form represent only a small minority of the platform’s subscribers as the company expands into other healthcare categories.
Peptides Emerge As Potential Growth Driver
The scrutiny comes even as investors focus on peptides, which are short chains of amino acids that regulate biological functions are being explored for uses such as muscle recovery and aging.
Interest in the category has grown after U.S. Secretary of Health and Human Services Robert F. Kennedy Jr. said the FDA is reviewing whether some previously restricted peptides could again be produced by U.S. compounding pharmacies. The Futurum Group CEO Daniel Newman said that Hims “is the most likely public company play for peptides at scale” and said the category “could easily offset any GLP-1 related downside.”
How Did Stocktwits Users React?
On Stocktwits, retail sentiment was ‘bearish’ amid ‘extremely low’ message volume.
One user expects a “most likely choppy day tomorrow.”
Another user speculated, “JP Morgan slashed 14 million shares Feb 27th on the day that short selling was restricted. THE STOCK RALLIED. Was JPM shorting all along?”
HIMS stock has shed over half of its value so far this year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<