Insider Selling: LifeMD (NASDAQ:LFMD) Insider Sells 75,000 Shares of Stock

LifeMD, Inc. (NASDAQ:LFMD) insider Nicholas Alvarez sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $5.92, for a total value of $444,000.00. Following the transaction, the insider directly owned 605,000 shares of the company’s stock, valued at $3,581,600. This trade represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

LifeMD Stock Down 1.5%

NASDAQ:LFMD opened at $5.80 on Friday. The firm has a market capitalization of $275.04 million, a PE ratio of -27.62 and a beta of 1.56. The stock has a 50 day moving average of $8.41 and a 200-day moving average of $8.47. LifeMD, Inc. has a 52 week low of $3.99 and a 52 week high of $15.84. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 9.21.

Analysts Set New Price Targets

Several equities analysts have recently commented on LFMD shares. Wall Street Zen lowered LifeMD from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Lake Street Capital decreased their price objective on LifeMD from $18.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Zacks Research raised LifeMD from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. BTIG Research increased their price objective on LifeMD from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Finally, HC Wainwright decreased their price objective on LifeMD from $14.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.17.

Hedge Funds Weigh In On LifeMD

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in LifeMD during the 1st quarter valued at $35,000. CWM LLC boosted its stake in LifeMD by 17.5% during the 1st quarter. CWM LLC now owns 9,050 shares of the company’s stock valued at $49,000 after purchasing an additional 1,351 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in LifeMD by 148.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company’s stock valued at $50,000 after purchasing an additional 2,185 shares in the last quarter. ProShare Advisors LLC bought a new position in LifeMD during the 4th quarter valued at $51,000. Finally, Balyasny Asset Management L.P. bought a new position in LifeMD during the 4th quarter valued at $52,000. 35.52% of the stock is owned by institutional investors.

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.