AXQ Capital LP Invests $57,000 in LifeMD, Inc. (NASDAQ:LFMD)

AXQ Capital LP purchased a new stake in shares of LifeMD, Inc. (NASDAQ:LFMD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,595 shares of the company’s stock, valued at approximately $57,000.

A number of other hedge funds have also bought and sold shares of LFMD. Royce & Associates LP raised its stake in shares of LifeMD by 23.9% during the 4th 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. State Street Corp raised its position in LifeMD by 20.0% in the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after acquiring an additional 192,861 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in LifeMD by 21.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock valued at $4,610,000 after acquiring an additional 165,378 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of LifeMD during the 4th quarter valued at approximately $473,000. Finally, Geode Capital Management LLC increased its stake in shares of LifeMD by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock worth $4,293,000 after purchasing an additional 83,598 shares during the last quarter. 35.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Lake Street Capital began coverage on LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective for the company. B. Riley raised LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of LifeMD in a report on Tuesday, March 11th. KeyCorp reduced their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, HC Wainwright upped their price target on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned 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 $11.43.

LifeMD Trading Up 8.9 %

Shares of LifeMD stock opened at $6.10 on Tuesday. The company’s 50-day moving average price is $5.75 and its 200-day moving average price is $5.42. The company has a market cap of $271.96 million, a price-to-earnings ratio of -9.53 and a beta of 1.50. LifeMD, Inc. has a 12-month low of $3.99 and a 12-month high of $12.88.

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

Insider Buying and Selling

In other news, CEO Justin Schreiber sold 50,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the transaction, the chief executive officer now owns 2,653,715 shares of the company’s stock, valued at approximately $20,035,548.25. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of the company’s 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 completion of the transaction, the chief marketing officer now owns 170,000 shares in the company, valued at approximately $962,200. This trade represents a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,000 shares of company stock worth $677,050 over the last ninety days. 15.97% of the stock is owned by corporate insiders.

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.