Hims & Hers Health, Inc. ( HIMS ) shares are trending Wednesday after the company announced it launched access to the Hims & Hers Multi-Cancer Test.

Hims & Hers stock is charging ahead with explosive momentum. What’s driving HIMS stock higher?

Multi-Cancer Test Launched

Hims & Hers said it will offer access to Galleri, a blood-based multi-cancer early detection test from GRAIL Inc. that screens for signals associated with more than 50 types of cancer, including cancers that do not have recommended routine screenings.

The company said the test can be taken annually and is designed to detect cancer signals even before symptoms appear. Galleri's technology also includes a prediction of where in the body the cancer signal may be originating. The company noted the test does not detect all cancers and false positive and false negative results can occur.

Hims & Hers said customers can add the Multi-Cancer Test by Galleri to existing Labs plans starting Wednesday, with a $250 discount to the Galleri list price.

CEO Andrew Dudum said the launch is intended to expand access to advanced cancer screening technology and help close gaps in access to proactive care. Executives from GRAIL and Hims & Hers said the offering is meant to complement recommended cancer screenings and support earlier detection.

Mixed Momentum For HIMS

The technical indicators paint a more complex picture for Hims & Hers. The stock is currently trading 14.9% below its 20-day simple moving average (SMA) and 37.9% below its 100-day SMA, indicating a bearish trend. Over the past 12 months, shares have decreased by 38.20%, and they are positioned closer to their 52-week lows than highs, reflecting ongoing challenges for the company.

The RSI is currently at 29.27, which indicates that the stock is in oversold territory, while the MACD is below its signal line, suggesting bearish pressure. This combination of an oversold RSI and bearish MACD indicates mixed momentum, as the stock struggles to find a clear direction.

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Hims & Hers Health ( HIMS ), highlighting its strengths and weaknesses compared to the broader market:

Value: Weak (Score: 6.39) — Trading at a steep premium relative to peers.

Growth: Strong (Score: 87.86) — Indicating strong growth potential.

Momentum: Bearish (Score: 2.75) — Stock is underperforming the broader market.

The Verdict: Hims & Hers Health’s Benzinga Edge signal reveals a mixed outlook. While the Growth score indicates potential, the weak Value and bearish Momentum scores suggest caution for investors navigating this volatile environment.

Hims & Hers Stock Bounces Around

HIMS Price Action: Hims shares traded as high as $27.20 on Wednesday before pulling back. At the time of writing, Hims & Hers stock is trading 0.94% lower at $25.29, according to data from Benzinga Pro.

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