Insider Selling: LifeMD, Inc. (NASDAQ:LFMD) CEO Sells 50,000 Shares of Stock

LifeMD, Inc. (NASDAQ:LFMD) CEO Justin Schreiber sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,653,715 shares in the company, valued at $20,035,548.25. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

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

LifeMD Stock Performance

Shares of LifeMD stock opened at $5.46 on Friday. The company’s 50 day moving average price is $5.69 and its 200-day moving average price is $5.40. LifeMD, Inc. has a 52-week low of $3.99 and a 52-week high of $12.88.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. KeyCorp lowered their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of LifeMD in a research note on Monday, November 11th. Lake Street Capital started coverage on shares of LifeMD in a research note on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Mizuho started coverage on shares of LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.14.

Institutional Trading of LifeMD

Several large investors have recently added to or reduced their stakes in LFMD. Marshall Wace LLP boosted its holdings in LifeMD by 522.9% in the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company’s stock valued at $1,839,000 after acquiring an additional 311,841 shares in the last quarter. Royce & Associates LP boosted its holdings in LifeMD by 23.9% in the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after acquiring an additional 214,950 shares in the last quarter. State Street Corp boosted its holdings in LifeMD by 20.0% in the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock valued at $6,055,000 after acquiring an additional 192,861 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock valued at $4,610,000 after buying an additional 165,378 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of LifeMD by 45.2% in the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company’s stock worth $2,524,000 after buying an additional 158,796 shares during the period. Institutional investors own 35.52% of the company’s stock.

LifeMD Company Profile

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.