LifeStance Health Group (NASDAQ:LFST) Shares Gap Up to $5.50 (2024)

Shares of LifeStance Health Group, Inc. (NASDAQ:LFST – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $5.50, but opened at $5.62. LifeStance Health Group shares last traded at $5.52, with a volume of 34,881 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reaffirmed an “overweight” rating and set a $10.00 target price on shares of LifeStance Health Group in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.80.

Read Our Latest Stock Analysis on LifeStance Health Group

LifeStance Health Group Price Performance

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The stock has a 50-day moving average of $5.66 and a two-hundred day moving average of $6.24. The company has a market cap of $2.10 billion, a P/E ratio of -11.46 and a beta of 1.20. 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 – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $300.44 million during the quarter, compared to the consensus estimate of $299.02 million. LifeStance Health Group had a negative return on equity of 11.92% and a negative net margin of 15.69%. LifeStance Health Group’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, research analysts anticipate that LifeStance Health Group, Inc. will post -0.26 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Summit Partners Growth Equity sold 3,802,345 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $5.89, for a total transaction of $22,395,812.05. Following the completion of the sale, the insider now owns 41,932,358 shares of the company’s stock, valued at $246,981,588.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Summit Partners Growth Equity sold 3,802,345 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $5.89, for a total transaction of $22,395,812.05. Following the completion of the sale, the insider now owns 41,932,358 shares of the company’s stock, valued at $246,981,588.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Danish J. Qureshi sold 150,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $5.21, for a total value of $781,500.00. Following the sale, the insider now directly owns 439,002 shares of the company’s stock, valued at approximately $2,287,200.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,087,716 shares of company stock valued at $24,010,444. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of LifeStance Health Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LFST. Vanguard Group Inc. lifted its stake in LifeStance Health Group by 1.1% in the third quarter. Vanguard Group Inc. now owns 7,525,195 shares of the company’s stock worth $51,698,000 after acquiring an additional 84,373 shares during the period. SG Americas Securities LLC lifted its stake in LifeStance Health Group by 37.6% in the fourth quarter. SG Americas Securities LLC now owns 41,325 shares of the company’s stock worth $324,000 after acquiring an additional 11,295 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in LifeStance Health Group in the fourth quarter worth $93,000. Charles Schwab Investment Management Inc. lifted its stake in LifeStance Health Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 744,617 shares of the company’s stock worth $5,830,000 after acquiring an additional 5,112 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in LifeStance Health Group by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 4,006,344 shares of the company’s stock worth $31,370,000 after acquiring an additional 110,457 shares during the period. Hedge funds and other institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Company Profile

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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.