Institutional Giants Bet Big on Hims & Hers Stock

A wave of aggressive buying by major financial institutions has swept over Hims & Hers Health, Inc. Recent regulatory filings reveal a stunning accumulation of shares by some of Wall Street’s most prominent players during the third quarter of 2025, signaling a powerful vote of confidence despite recent stock price volatility.

A Surge in Institutional Ownership

Leading the charge was JPMorgan Chase, which bolstered its portfolio by approximately 15.04 million shares—a staggering increase of 549%. This move represents an investment estimated at $853 million. The banking giant was not alone in its bullish stance. Tidal Investments amplified its stake by an extraordinary 1,779%, while asset manager T. Rowe Price reported a 444% increase in its holdings. Farallon Capital also significantly expanded its position. This coordinated buying spree among sophisticated investors suggests a shared conviction that the company’s shares are trading below their intrinsic value.

Robust Fundamentals Amidst Analyst Debate

The institutional optimism appears grounded in strong operational performance. For Q3 2025, Hims & Hers posted impressive results: revenue surged 49% to $599 million, while adjusted EBITDA jumped 53% to $78.4 million. This combination of rapid growth and expanding profitability is a notable achievement within the competitive digital health sector.

Should investors sell immediately? Or is it worth buying Hims & Hers?

However, equity researchers are divided on the stock’s outlook. The disparity in views is stark. BTIG has set a price target of $85, implying more than a doubling from current levels. In contrast, Bank of America has issued an “Underperform” rating with a $32 target, citing concerns over mounting competition in the lucrative weight-loss and GLP-1 medication markets. The institutional accumulation indicates that these heavyweight investors may view such competitive fears as overstated or already priced in.

Market Reaction and Technical Momentum

Disclosure of these substantial purchases has provided a catalyst for the stock. In Tuesday’s trading session, the equity rebounded sharply from an intraday low of $37.48. Shares were recently changing hands around $39.83, marking a gain of roughly 6.3% from the day’s low. Trading volume reached 13.56 million shares, indicating renewed investor interest.

The $40 price level now represents a key short-term resistance point. A sustained break above it could pressure near-term short sellers and provide additional upward momentum. The current landscape presents a highly polarized picture, with the bear case at $32 and the bull case at $85 creating one of the most debated narratives in healthtech investing today.