LifeStance Health Group (NASDAQ:LFST) Shares Gap Up - Still a Buy?

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $5.49, but opened at $6.10. LifeStance Health Group shares last traded at $5.88, with a volume of 576,499 shares changing hands.

Wall Street Analyst Weigh In

LFST has been the topic of a number of analyst reports. UBS Group upgraded shares of LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $8.50 price objective on the stock in a report on Tuesday. KeyCorp started coverage on shares of LifeStance Health Group in a research note on Tuesday, April 8th. They set an "overweight" rating and a $9.00 price target on the stock. Canaccord Genuity Group started coverage on shares of LifeStance Health Group in a research note on Thursday, April 3rd. They set a "buy" rating and a $8.00 price target on the stock. Finally, William Blair reiterated an "outperform" rating on shares of LifeStance Health Group in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, LifeStance Health Group currently has an average rating of "Moderate Buy" and a consensus price target of $8.50.

LifeStance Health Group Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $2.31 billion, a PE ratio of -22.88 and a beta of 1.30. The company's 50-day simple moving average is $6.32 and its 200-day simple moving average is $7.12.

Insiders Place Their Bets

In other LifeStance Health Group news, insider Lisa K. Miller sold 18,845 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.90, for a total transaction of $130,030.50. Following the transaction, the insider now directly owns 339,810 shares of the company's stock, valued at approximately $2,344,689. This trade represents a 5.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in shares of LifeStance Health Group by 124.4% in the fourth quarter. Blue Trust Inc. now owns 3,828 shares of the company's stock valued at $27,000 after acquiring an additional 2,122 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of LifeStance Health Group in the first quarter valued at about $31,000. Xponance Inc. purchased a new stake in shares of LifeStance Health Group in the first quarter valued at about $69,000. R Squared Ltd purchased a new stake in shares of LifeStance Health Group in the fourth quarter valued at about $80,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of LifeStance Health Group in the fourth quarter valued at about $87,000. 85.50% of the stock is 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.