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

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report)'s stock price gapped up before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of LifeStance Health Group in a research note on Friday, February 28th. KeyCorp initiated coverage on LifeStance Health Group in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $9.00 target price on the stock. Canaccord Genuity Group began coverage on shares of LifeStance Health Group in a report on Thursday, April 3rd. They set a "buy" rating and a $8.00 price target for the company. Finally, UBS Group raised LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $8.50 target price on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $8.50.

LifeStance Health Group Trading Down 0.1%

The business has a 50-day moving average of $6.35 and a 200-day moving average of $7.15. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -23.21 and a beta of 1.30.

Insider Transactions at LifeStance Health Group

In other LifeStance Health Group news, insider Lisa K. Miller sold 18,845 shares of the 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 owns 339,810 shares in the company, valued at approximately $2,344,689. This represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LFST. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 acquiring an additional 11,331 shares during the period. Voleon Capital Management LP acquired a new stake in shares of LifeStance Health Group in the first quarter valued at about $163,000. Petrus Trust Company LTA acquired a new position in shares of LifeStance Health Group in the first quarter worth approximately $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of LifeStance Health Group by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company's stock worth $952,000 after acquiring an additional 4,169 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in LifeStance Health Group during the first quarter worth approximately $7,932,000. 85.50% of the stock is currently owned by institutional investors.

About LifeStance Health Group

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.