Canaccord Genuity Group Initiates Coverage on LifeStance Health Group (NASDAQ:LFST)

Research analysts at Canaccord Genuity Group initiated coverage on shares of LifeStance Health Group (NASDAQ:LFST - Get Free Report) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $8.00 price target on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 18.48% from the stock's current price.

LFST has been the subject of several other research reports. William Blair reissued an "outperform" rating on shares of LifeStance Health Group in a research note on Friday, February 28th. The Goldman Sachs Group upgraded LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $8.58.

LifeStance Health Group Trading Up 3.7 %

Shares of LFST stock traded up $0.24 on Thursday, hitting $6.75. 924,465 shares of the stock traded hands, compared to its average volume of 1,575,202. LifeStance Health Group has a twelve month low of $4.64 and a twelve month high of $8.61. The stock has a market capitalization of $2.60 billion, a PE ratio of -25.94 and a beta of 1.30. The firm's 50-day moving average price is $7.44 and its two-hundred day moving average price is $7.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.32 and a current ratio of 1.32.

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Insider Transactions at LifeStance Health Group

In related news, insider Lisa K. Miller sold 18,845 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.90, for a total transaction of $130,030.50. Following the completion of the transaction, the insider now directly owns 339,810 shares in the company, valued at $2,344,689. This trade represents a 5.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

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

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.