Orbimed Advisors LLC Purchases New Holdings in LifeStance Health Group, Inc. $LFST

Key Points

• Orbimed Advisors acquired 500,000 LifeStance Health Group shares worth approximately $3.19 million, while institutional investors collectively owned 85.5% of the company.
• LifeStance beat quarterly expectations, reporting $0.04 earnings per share versus a $0.01 estimate and revenue of $403.5 million, up 21.2% year over year.
• Analysts remain generally bullish, with a “Moderate Buy” consensus and an average price target of $11.50, although insiders sold 7.69 million shares worth $63.6 million over the prior 90 days.

Orbimed Advisors LLC acquired a new position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 500,000 shares of the company's stock, valued at approximately $3,185,000. Orbimed Advisors LLC owned approximately 0.13% of LifeStance Health Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royal Bank of Canada lifted its holdings in shares of LifeStance Health Group by 63.4% during the first quarter. Royal Bank of Canada now owns 70,248 shares of the company's stock valued at $468,000 after purchasing an additional 27,244 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of LifeStance Health Group by 223.0% in the 1st quarter. AQR Capital Management LLC now owns 51,500 shares of the company's stock worth $343,000 after buying an additional 35,554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in LifeStance Health Group by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company's stock valued at $952,000 after buying an additional 4,169 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in LifeStance Health Group by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 615,652 shares of the company's stock valued at $4,100,000 after buying an additional 11,331 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in LifeStance Health Group by 10.2% during the second quarter. JPMorgan Chase & Co. now owns 550,657 shares of the company's stock valued at $2,847,000 after buying an additional 51,154 shares during the last quarter. Hedge funds and other institutional investors own 85.50% of the company's stock.

LifeStance Health Group Price Performance

LifeStance Health Group stock opened at $10.90 on Monday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 181.67 and a beta of 1.12. The stock has a fifty day simple moving average of $9.33 and a two-hundred day simple moving average of $7.82. LifeStance Health Group, Inc. has a 12 month low of $3.74 and a 12 month high of $11.76. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm had revenue of $403.48 million during the quarter, compared to analysts' expectations of $387.46 million. The company's quarterly revenue was up 21.2% compared to the same quarter last year. Equities analysts predict that LifeStance Health Group, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric Shuey sold 243,362 shares of LifeStance Health Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $1,951,763.24. Following the completion of the sale, the director directly owned 867,562 shares in the company, valued at $6,957,847.24. The trade was a 21.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the completion of the sale, the director owned 23,310,115 shares of the company's stock, valued at $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 7,687,394 shares of company stock valued at $63,579,701. 3.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. KeyCorp boosted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. The Goldman Sachs Group assumed coverage on LifeStance Health Group in a research report on Friday, June 5th. They issued a "neutral" rating and a $9.00 price target for the company. Barclays upped their price target on shares of LifeStance Health Group from $9.00 to $13.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Canaccord Genuity Group increased their price objective on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, BTIG Research raised their price objective on shares of LifeStance Health Group from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.50.

About LifeStance Health Group

LifeStance Health Group NASDAQ: LFST is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.

The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.

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