19,300 Shares in Guardant Health, Inc. $GH Acquired by Formula Growth Ltd.

Formula Growth Ltd. bought a new position in Guardant Health, Inc. (NASDAQ:GH) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 19,300 shares of the company’s stock, valued at approximately $2,896,000.

Several other large investors have also recently bought and sold shares of GH. Coastal Bridge Advisors LLC purchased a new position in shares of Guardant Health during the 2nd quarter valued at $203,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Guardant Health in the second quarter worth $5,444,000. Corient Private Wealth LP purchased a new stake in shares of Guardant Health in the second quarter worth $1,526,000. Artia Global Partners LP purchased a new stake in shares of Guardant Health in the second quarter worth $5,716,000. Finally, Bamco Inc. NY bought a new stake in Guardant Health during the second quarter valued at $2,475,000. 92.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GH has been the subject of several recent analyst reports. Wolfe Research started coverage on Guardant Health in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price for the company. Barclays raised their price target on Guardant Health from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Guardant Health in a report on Friday, July 31st. Piper Sandler upped their price objective on shares of Guardant Health from $135.00 to $193.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and an average price target of $183.78.

Guardant Health Stock Performance

Shares of NASDAQ:GH opened at $168.52 on Friday. The firm has a market capitalization of $22.62 billion, a PE ratio of -48.29 and a beta of 1.60. Guardant Health, Inc. has a 52-week low of $53.40 and a 52-week high of $176.58. The firm has a fifty day moving average of $156.90 and a 200 day moving average of $120.47.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. During the same quarter in the previous year, the business earned ($0.44) EPS. The company’s revenue for the quarter was up 44.3% on a year-over-year basis. On average, sell-side analysts forecast that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Insider Activity

In other Guardant Health news, Director Ian T. Clark sold 14,180 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the sale, the director owned 2,975 shares of the company’s stock, valued at $472,787. This represents a 82.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Helmy Eltoukhy sold 100,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the transaction, the chief executive officer owned 2,012,919 shares in the company, valued at $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 548,318 shares of company stock worth $82,501,873. 5.60% of the stock is currently owned by insiders.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.