LifeStance Health Group (NASDAQ:LFST) Shares Gap Down to $7.48

LifeStance Health Group, Inc. (NASDAQ:LFST)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $7.48, but opened at $6.04. LifeStance Health Group shares last traded at $6.08, with a volume of 1,768,763 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LFST. Morgan Stanley restated an “overweight” rating and set a $10.00 price objective on shares of LifeStance Health Group in a research note on Monday, April 22nd. Jefferies Financial Group raised their price objective on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Barclays raised their price target on shares of LifeStance Health Group from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, LifeStance Health Group presently has a consensus rating of “Hold” and an average price target of $8.80.

LifeStance Health Group Trading Down 19.0 %

The business’s fifty day moving average price is $6.39 and its 200-day moving average price is $6.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 1.18.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Thursday, May 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $300.44 million during the quarter, compared to analyst estimates of $299.02 million. LifeStance Health Group had a negative net margin of 15.69% and a negative return on equity of 11.92%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share. On average, equities research analysts forecast that LifeStance Health Group, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Activity at LifeStance Health Group

In other LifeStance Health Group news, insider Kevin Michael Mullins sold 115,136 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $8.02, for a total value of $923,390.72. Following the completion of the transaction, the insider now directly owns 4,575,480 shares in the company, valued at $36,695,349.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other LifeStance Health Group news, insider Kevin Michael Mullins sold 115,136 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $8.02, for a total value of $923,390.72. Following the completion of the transaction, the insider now directly owns 4,575,480 shares in the company, valued at $36,695,349.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David Bourdon sold 58,826 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.93, for a total transaction of $407,664.18. Following the completion of the transaction, the chief financial officer now owns 433,856 shares of the company’s stock, valued at $3,006,622.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,741 shares of company stock worth $2,149,435. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On LifeStance Health Group

Several hedge funds have recently modified their holdings of LFST. Principal Financial Group Inc. raised its stake in LifeStance Health Group by 4.5% during the third quarter. Principal Financial Group Inc. now owns 3,895,887 shares of the company’s stock valued at $26,765,000 after purchasing an additional 168,091 shares in the last quarter. Jump Financial LLC purchased a new stake in LifeStance Health Group during the third quarter valued at $157,000. Barclays PLC raised its stake in LifeStance Health Group by 37.1% during the third quarter. Barclays PLC now owns 47,561 shares of the company’s stock valued at $327,000 after purchasing an additional 12,858 shares in the last quarter. Keybank National Association OH raised its stake in LifeStance Health Group by 37.9% during the third quarter. Keybank National Association OH now owns 26,587 shares of the company’s stock valued at $183,000 after purchasing an additional 7,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in LifeStance Health Group by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 739,505 shares of the company’s stock valued at $5,080,000 after purchasing an additional 7,868 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

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.