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

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

LFMD opened at $5.46 on Friday. The firm has a 50-day moving average of $5.69 and a 200 day moving average of $5.40. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $12.88.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On LifeMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in LifeMD by 20.0% during the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares during the period. Royce & Associates LP boosted its position in LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock worth $5,524,000 after purchasing an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock worth $4,610,000 after purchasing an additional 165,378 shares during the period. Millennium Management LLC boosted its position in LifeMD by 17.1% during the fourth quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock worth $4,386,000 after purchasing an additional 129,327 shares during the period. Finally, Geode Capital Management LLC boosted its position in LifeMD by 0.4% during the fourth 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. Institutional investors own 35.52% of the company’s stock.

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.