LifeMD (NASDAQ:LFMD) Shares Gap Down - Should You Sell?

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $10.77, but opened at $10.48. LifeMD shares last traded at $11.58, with a volume of 448,654 shares traded.

Analyst Ratings Changes

A number of research analysts recently issued reports on LFMD shares. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and issued a $14.00 target price on shares of LifeMD in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $15.00 target price on shares of LifeMD in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, LifeMD presently has a consensus rating of "Buy" and an average target price of $11.00.

LifeMD Stock Performance

The firm has a fifty day moving average price of $6.95 and a 200 day moving average price of $6.14. The firm has a market capitalization of $534.47 million, a price-to-earnings ratio of -18.42 and a beta of 2.22.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million during the quarter, compared to analyst estimates of $62.47 million. Research analysts predict that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.66, for a total transaction of $169,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 170,000 shares of the company's stock, valued at approximately $962,200. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $7.78, for a total value of $389,000.00. Following the transaction, the chief executive officer now directly owns 2,575,721 shares of the company's stock, valued at approximately $20,039,109.38. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,995 shares of company stock valued at $724,422 in the last three months. 15.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LifeMD

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in LifeMD during the first quarter worth $35,000. CWM LLC raised its holdings in LifeMD by 17.5% during the first quarter. CWM LLC now owns 9,050 shares of the company's stock worth $49,000 after purchasing an additional 1,351 shares during the last quarter. ProShare Advisors LLC acquired a new position in LifeMD during the fourth quarter worth $51,000. Oxford Asset Management LLP acquired a new position in LifeMD during the fourth quarter worth $52,000. Finally, Balyasny Asset Management L.P. purchased a new position in LifeMD during the fourth quarter worth $52,000. 35.52% of the stock is owned by institutional investors and hedge funds.

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.