LifeStance Health Group (NASDAQ:LFST) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of LifeStance Health Group (NASDAQ:LFST) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $8.00 target price on the stock.

A number of other research firms also recently weighed in on LFST. The Goldman Sachs Group raised LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, December 16th. William Blair restated an “outperform” rating on shares of LifeStance Health Group in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, LifeStance Health Group has a consensus rating of “Moderate Buy” and an average target price of $8.50.

LifeStance Health Group Stock Performance

LFST opened at $6.64 on Thursday. LifeStance Health Group has a 12-month low of $4.64 and a 12-month high of $8.61. The firm has a market capitalization of $2.55 billion, a P/E ratio of -25.54 and a beta of 1.30. The stock’s 50 day moving average price is $7.47 and its two-hundred day moving average price is $7.34. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.19.

Insider Activity at LifeStance Health Group

In related news, insider Lisa K. Miller sold 18,845 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.90, for a total value of $130,030.50. Following the completion of the transaction, the insider now directly owns 339,810 shares of the company’s stock, valued at approximately $2,344,689. This represents a 5.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its position in LifeStance Health Group by 278.4% during the fourth quarter. Jennison Associates LLC now owns 8,086,380 shares of the company’s stock valued at $59,597,000 after purchasing an additional 5,949,438 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of LifeStance Health Group by 87.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,524,529 shares of the company’s stock valued at $25,977,000 after buying an additional 1,643,390 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of LifeStance Health Group by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 10,689,396 shares of the company’s stock valued at $78,781,000 after buying an additional 784,818 shares in the last quarter. Geode Capital Management LLC increased its holdings in LifeStance Health Group by 26.8% during the third quarter. Geode Capital Management LLC now owns 3,452,178 shares of the company’s stock worth $24,170,000 after buying an additional 729,794 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in LifeStance Health Group by 15.2% during the third quarter. Wellington Management Group LLP now owns 4,830,441 shares of the company’s stock worth $33,813,000 after acquiring an additional 638,385 shares in the last quarter. Institutional investors own 85.50% of the company’s stock.

About LifeStance Health Group

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.