LifeStance Health Group (NASDAQ:LFST) Coverage Initiated at Canaccord Genuity Group

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of LifeStance Health Group (NASDAQ:LFST) in a report issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 20.48% from the stock’s previous close.

A number of other brokerages have also recently commented on LFST. William Blair reiterated an “outperform” rating on shares of LifeStance Health Group in a research report on Friday, February 28th. The Goldman Sachs Group raised shares of LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, LifeStance Health Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

LifeStance Health Group Stock Performance

NASDAQ LFST opened at $6.64 on Thursday. The company has a fifty day moving average of $7.47 and a 200-day moving average of $7.34. LifeStance Health Group has a 52-week low of $4.64 and a 52-week high of $8.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $2.55 billion, a P/E ratio of -25.54 and a beta of 1.27.

Insider Buying and Selling at LifeStance Health Group

In other news, insider Lisa K. Miller sold 18,845 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.90, for a total transaction of $130,030.50. Following the transaction, the insider now directly owns 339,810 shares of the company’s stock, valued at approximately $2,344,689. The trade was a 5.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of LifeStance Health Group by 124.4% during the 4th quarter. Blue Trust Inc. now owns 3,828 shares of the company’s stock valued at $27,000 after purchasing an additional 2,122 shares in the last quarter. Townsquare Capital LLC bought a new stake in LifeStance Health Group during the 3rd quarter valued at approximately $73,000. R Squared Ltd purchased a new position in shares of LifeStance Health Group during the 4th quarter worth approximately $80,000. Ameriprise Financial Inc. purchased a new position in shares of LifeStance Health Group during the 4th quarter worth approximately $87,000. Finally, Cibc World Markets Corp bought a new position in shares of LifeStance Health Group in the 4th quarter worth approximately $96,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.