Shares of direct-to-consumer telehealth platform Hims & Hers Health (NYSE: HIMS) have become a runaway freight train. The stock has returned nearly 20-fold returns from its 2022 lows, including a blistering 490% over the past year alone.

Hims & Hers Health Inc (NYSE:HIMS) shares are soaring Wednesday after the company announced plans to introduce at-home lab testing. Positive analyst coverage may also be boosting the stock. Here's what you need to know.

Hims & Hers Health (HIMS) stock rocketed higher today after the telehealth platform operator announced plans to introduce at-home lab

Shares of Hims & Hers Health Inc ( HIMS 17.50%) are flying higher on Wednesday. The company's stock gained 21.7% as of 2:00 p.m. ET, and was up as much as 24.8% earlier in the day. The gain comes as the S&P 500 gained 0.1%, and the Nasdaq Composite was flat.