Canaccord Genuity Group Initiates Coverage on LifeStance Health Group (NASDAQ:LFST)

Research analysts at Canaccord Genuity Group started coverage on shares of LifeStance Health Group (NASDAQ:LFST) in a report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 20.66% from the company’s previous close.

LFST has been the topic of several other research reports. William Blair reissued an “outperform” rating on shares of LifeStance Health Group in a research report on Friday, February 28th. The Goldman Sachs Group upgraded LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.50.

LifeStance Health Group Price Performance

LFST opened at $6.63 on Thursday. LifeStance Health Group has a fifty-two week low of $4.64 and a fifty-two week high of $8.61. The firm has a market capitalization of $2.55 billion, a P/E ratio of -25.50 and a beta of 1.27. The company’s 50-day moving average is $7.52 and its 200 day moving average is $7.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Transactions at LifeStance Health Group

In other news, insider Lisa K. Miller sold 18,845 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LifeStance Health Group

Several institutional investors have recently added to or reduced their stakes in LFST. Blue Trust Inc. raised its position 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 purchasing an additional 2,122 shares during the period. LPL Financial LLC grew its stake in LifeStance Health Group by 6.0% in the 4th quarter. LPL Financial LLC now owns 37,584 shares of the company’s stock valued at $277,000 after buying an additional 2,127 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in LifeStance Health Group by 2.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 138,781 shares of the company’s stock valued at $1,023,000 after acquiring an additional 3,305 shares during the period. MetLife Investment Management LLC raised its holdings in LifeStance Health Group by 6.8% during the 4th quarter. MetLife Investment Management LLC now owns 85,914 shares of the company’s stock valued at $633,000 after acquiring an additional 5,492 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of LifeStance Health Group by 31.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,105 shares of the company’s stock worth $169,000 after acquiring an additional 5,767 shares in the last quarter. 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.