Hims & Hers stock hasn’t been this high since 2021. Here’s why.

Hims & Hers (HIMS) shares are trading higher after the company said it has added GLP-1 injections to its weight loss portfolio.

The GLP-1 injections follow other weight management products from Hims & Hers, such as oral medication kits to help customers better personalize their weight loss plan. The price starts at $199.

We know weight loss medications alone do not treat obesity effectively, so we’ve built a holistic weight management solution that supports customers as they combine powerful medications with healthy lifestyle habits, such as exercise, improved sleep, and eating nutritious foods.

Dr. Patrick Carroll, Chief Medical Officer of Hims & Hers

According to the US FDA, around 70% of American adults have obesity or are overweight, and losing 5 to 10% of that body weight can reduce weight-related health risks, such as diabetes and cardiovascular disease. GLP-1 medications can support healthy weight loss along with a reduced calorie diet and increased exercise by helping manage blood sugar levels, curb cravings and suppress appetite, so people eat less without feeling deprived.

Hims & Hers shares were trading 31% higher to $19.15 on abnormally-high volume at the time of writing following the announcement. The stock has a 52-week low of $5.65 and a 52-week high $17.16.