Hims & Hers Health Inc (NYSE:HIMS) shares are pulling back Monday morning, giving back a portion of last week's sharp rally as investors appeared to pause after a fast run-up in the telehealth stock. Here’s what investors need to know.

HIMS Stock Pulls Back After 50% Monthly Rally

The stock is pulling back after a surge of more than 50% over the past month. Investor enthusiasm rose after the company announced a partnership with Novo Nordisk A/S (NYSE:NVO) that will bring branded GLP-1 treatments, including Ozempic and Wegovy, to the Hims platform later this month. The agreement was viewed as a significant step because it reduced a legal overhang and signaled closer alignment with a major drugmaker.

In addition, Hims recently introduced a new subscriber benefits program with partner discounts, adding to expectations that the company is building a broader consumer health ecosystem.

The recent rally was also fueled in part by upbeat Wall Street commentary. Barclays last week maintained its Overweight rating on Hims & Hers and raised its price target to $29 from $25, a move that helped reinforce bullish sentiment around the company's outlook.

That analyst action came alongside broader optimism tied to Hims & Hers' expanding weight-loss and wellness strategy.

HIMS RSI Signals Strengthening Momentum After Sharp Rally

Hims & Hers Health's RSI has mostly remained in the neutral range over the past year, with several brief moves into overbought territory during periods of strong price momentum.

The indicator recently surged toward the overbought threshold after rebounding from oversold levels earlier in the year, suggesting strengthening bullish momentum following a sharp rally.

HIMS Shares Edge Lower Monday Morning

HIMS Price Action: Hims & Hers Health shares were down 3.31% at $23.95 at the time of publication on Monday, according to Benzinga Pro data.

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