LifeMD (NASDAQ:LFMD) Shares Gap Down on Insider Selling

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s share price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $12.29, but opened at $11.98. LifeMD shares last traded at $12.16, with a volume of 807,707 shares trading hands.

Specifically, CEO Justin Schreiber sold 25,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $12.47, for a total value of $311,750.00. Following the sale, the chief executive officer now directly owns 2,525,721 shares in the company, valued at approximately $31,495,740.87. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LFMD. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of LifeMD in a report on Wednesday, April 30th. Finally, B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $11.00.

LifeMD Stock Performance

The business's 50 day moving average is $7.97 and its 200 day moving average is $6.46. The company has a market capitalization of $549.01 million, a price-to-earnings ratio of -18.88 and a beta of 2.42.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The company had revenue of $65.70 million during the quarter, compared to analyst estimates of $62.47 million. Sell-side analysts predict that LifeMD, Inc. will post -0.56 EPS for the current year.

Institutional Trading of LifeMD

A number of institutional investors have recently bought and sold shares of LFMD. Uniplan Investment Counsel Inc. raised its position in LifeMD by 0.8% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 388,288 shares of the company's stock worth $2,112,000 after buying an additional 3,035 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of LifeMD by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company's stock valued at $270,000 after purchasing an additional 2,235 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of LifeMD during the 1st quarter valued at approximately $114,000. Virtus Advisers LLC purchased a new position in shares of LifeMD during the 1st quarter valued at approximately $213,000. Finally, Jump Financial LLC increased its holdings in shares of LifeMD by 69.9% during the 1st quarter. Jump Financial LLC now owns 168,881 shares of the company's stock valued at $919,000 after purchasing an additional 69,502 shares in the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

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.