AXQ Capital LP Buys Shares of 11,595 LifeMD, Inc. (NASDAQ:LFMD)

AXQ Capital LP purchased a new stake in shares of LifeMD, Inc. (NASDAQ:LFMD) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 11,595 shares of the company’s stock, valued at approximately $57,000.

Several other institutional investors also recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in shares of LifeMD in the 3rd quarter valued at about $54,000. Quantbot Technologies LP bought a new stake in LifeMD in the fourth quarter valued at approximately $59,000. Magnus Financial Group LLC increased its position in LifeMD by 31.1% during the 4th quarter. Magnus Financial Group LLC now owns 16,000 shares of the company’s stock valued at $79,000 after purchasing an additional 3,792 shares during the period. MetLife Investment Management LLC raised its holdings in LifeMD by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 21,138 shares of the company’s stock worth $111,000 after purchasing an additional 11,910 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in shares of LifeMD in the 3rd quarter worth approximately $196,000. 35.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on LFMD. Mizuho started coverage on shares of LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective for the company. Lake Street Capital started coverage on LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research note on Tuesday, March 11th. B. Riley raised LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright boosted their price target on LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.43.

LifeMD Stock Performance

Shares of LifeMD stock opened at $6.10 on Tuesday. LifeMD, Inc. has a 52 week low of $3.99 and a 52 week high of $12.88. The stock has a 50 day moving average price of $5.75 and a two-hundred day moving average price of $5.42. The stock has a market capitalization of $271.96 million, a PE ratio of -9.53 and a beta of 1.50.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The business had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. Research analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current year.

Insider Activity

In related news, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 170,000 shares of the company’s stock, valued at $962,200. The trade was a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $7.55, for a total value of $377,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,653,715 shares of the company’s stock, valued at $20,035,548.25. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,000 shares of company stock worth $677,050 over the last three months. 15.97% of the stock is currently owned by insiders.

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.