LifeStance Health Group (NASDAQ:LFST) Reaches New 52-Week Low - Here's What Happened

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report)'s share price reached a new 52-week low on Tuesday . The stock traded as low as $4.65 and last traded at $4.68, with a volume of 2060481 shares traded. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

LFST has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on LifeStance Health Group in a research note on Thursday, April 3rd. They issued a "buy" rating and a $8.00 price target on the stock. UBS Group upgraded LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $8.50 price target on the stock in a research note on Tuesday, May 27th. Finally, KeyCorp initiated coverage on LifeStance Health Group in a research note on Tuesday, April 8th. They set an "overweight" rating and a $9.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.

LifeStance Health Group Trading Down 2.3%

The firm has a 50 day simple moving average of $5.61 and a 200 day simple moving average of $6.75. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.82 billion, a PE ratio of -46.80 and a beta of 1.16.

Insider Buying and Selling

In other LifeStance Health Group news, insider Ujjwal Ramtekkar sold 16,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $5.94, for a total transaction of $95,040.00. Following the sale, the insider directly owned 113,435 shares in the company, valued at approximately $673,803.90. This trade represents a 12.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On LifeStance Health Group

A number of institutional investors and hedge funds have recently modified their holdings of LFST. DekaBank Deutsche Girozentrale purchased a new position in shares of LifeStance Health Group in the 1st quarter worth $31,000. Park Edge Advisors LLC purchased a new position in shares of LifeStance Health Group in the 2nd quarter worth $52,000. Xponance Inc. purchased a new position in shares of LifeStance Health Group in the 1st quarter worth $69,000. Ameriprise Financial Inc. purchased a new position in shares of LifeStance Health Group in the 4th quarter worth $87,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of LifeStance Health Group in the 1st quarter worth $87,000. 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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