Balyasny Asset Management L.P. Makes New Investment in LifeMD, Inc. (NASDAQ:LFMD)

Balyasny Asset Management L.P. bought a new stake in LifeMD, Inc. (NASDAQ:LFMD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,423 shares of the company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Oxford Asset Management LLP purchased a new stake in LifeMD during the fourth quarter valued at about $52,000. AXQ Capital LP purchased a new stake in shares of LifeMD during the 4th quarter valued at approximately $57,000. Quantbot Technologies LP bought a new position in LifeMD in the 4th quarter worth approximately $59,000. Prudential Financial Inc. boosted its holdings in LifeMD by 19.3% in the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock worth $67,000 after buying an additional 2,200 shares during the period. Finally, Mariner LLC purchased a new position in LifeMD in the 4th quarter valued at approximately $67,000. 35.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. B. Riley upgraded LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price objective on shares of LifeMD in a report on Tuesday, March 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of LifeMD in a report on Wednesday, April 30th. One equities research 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 stock. According to data from MarketBeat.com, LifeMD presently has an average rating of “Buy” and a consensus price target of $11.00.

LifeMD Stock Performance

LifeMD stock opened at $10.58 on Tuesday. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $10.99. The stock has a market cap of $480.84 million, a P/E ratio of -16.53 and a beta of 2.22. The firm’s fifty day moving average price is $6.41 and its 200-day moving average price is $5.92.

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

Insider Buying and Selling at LifeMD

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction dated 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 sale, 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total value of $389,000.00. Following the transaction, the chief executive officer now owns 2,575,721 shares in the company, valued at $20,039,109.38. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,995 shares of company stock worth $724,422 over the last three months. 15.97% of the stock is 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.