Insider Selling: LifeMD, Inc. (NASDAQ:LFMD) CEO Sells $377,500.00 in Stock

LifeMD, Inc. (NASDAQ:LFMD) CEO Justin Schreiber sold 50,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $7.55, for a total value of $377,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,653,715 shares of the company’s stock, valued at approximately $20,035,548.25. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Justin Schreiber also recently made the following trade(s):

• On Thursday, January 2nd, Justin Schreiber sold 25,000 shares of LifeMD stock. The stock was sold at an average price of $5.19, for a total value of $129,750.00.
• On Monday, December 2nd, Justin Schreiber sold 25,000 shares of LifeMD stock. The stock was sold at an average price of $6.52, for a total value of $163,000.00.

LifeMD Trading Down 27.4 %

Shares of NASDAQ:LFMD opened at $5.46 on Monday. The stock has a 50 day moving average of $5.69 and a 200 day moving average of $5.40. The company has a market cap of $236.47 million, a PE ratio of -8.53 and a beta of 1.50. LifeMD, Inc. has a 12-month low of $3.99 and a 12-month high of $12.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. grew its stake in shares of LifeMD by 19.3% during the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock valued at $67,000 after acquiring an additional 2,200 shares during the period. Rhumbline Advisers grew its stake in shares of LifeMD by 6.1% during the 4th quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock valued at $241,000 after acquiring an additional 2,814 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in LifeMD by 26.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock worth $70,000 after purchasing an additional 2,895 shares during the period. Geode Capital Management LLC boosted its stake in LifeMD by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after purchasing an additional 2,984 shares during the period. Finally, Magnus Financial Group LLC boosted its stake in LifeMD by 31.1% in the 4th quarter. Magnus Financial Group LLC now owns 16,000 shares of the company’s stock worth $79,000 after purchasing an additional 3,792 shares during the period. 35.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Mizuho assumed coverage on shares of LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price target for the company. Lake Street Capital assumed coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of LifeMD in a research report on Monday, November 11th. Finally, KeyCorp reduced their price target on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, LifeMD presently has an average rating of “Moderate Buy” and an average target price of $11.14.

About LifeMD

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for medical care in the United States. The company offers telehealth platform comprising RexMD, a men's telehealth brand that provides access to virtual medical treatment for a variety of men's health needs from licensed physician; ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss; NavaMD, a female-oriented tele-dermatology that offers virtual medical treatment from dermatologists and other providers; and prescription oral and compounded topical medications to treat aging and acne; and Cleared which provides personalized treatments for allergy, asthma and immunology, including in-home tests for both environmental and food allergies, prescriptions for allergies and asthma and immunotherapies for treating chronic allergies.