LifeStance Health Group (NASDAQ:LFST) Shares Gap Up - Here's Why

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $7.13, but opened at $7.75. LifeStance Health Group shares last traded at $8.04, with a volume of 2,194,460 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on LFST. Barclays decreased their target price on shares of LifeStance Health Group from $8.00 to $6.00 and set an "underweight" rating on the stock in a report on Friday, August 9th. UBS Group reduced their target price on LifeStance Health Group from $9.00 to $7.50 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.25.

LifeStance Health Group Price Performance

The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -19.41 and a beta of 1.24. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.20. The company's 50-day moving average price is $6.87 and its 200-day moving average price is $6.19.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $312.30 million for the quarter, compared to analyst estimates of $305.85 million. LifeStance Health Group had a negative net margin of 13.05% and a negative return on equity of 10.51%. The business's quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share. On average, equities research analysts forecast that LifeStance Health Group, Inc. will post -0.24 EPS for the current year.

Insider Transactions at LifeStance Health Group

In other news, insider Ann Varanakis sold 5,269 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $6.28, for a total transaction of $33,089.32. Following the transaction, the insider now directly owns 263,007 shares in the company, valued at approximately $1,651,683.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of hedge funds have recently modified their holdings of LFST. Bessemer Group Inc. lifted its holdings in shares of LifeStance Health Group by 43.4% during the first quarter. Bessemer Group Inc. now owns 9,143 shares of the company's stock worth $56,000 after purchasing an additional 2,768 shares during the period. Park Edge Advisors LLC acquired a new stake in shares of LifeStance Health Group during the third quarter worth $73,000. CIBC Asset Management Inc acquired a new stake in shares of LifeStance Health Group during the second quarter worth $53,000. Algert Global LLC acquired a new stake in shares of LifeStance Health Group during the second quarter worth $57,000. Finally, Allen Investment Management LLC acquired a new stake in shares of LifeStance Health Group during the first quarter worth $79,000. 85.50% of the stock is currently 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.

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