Norges Bank Acquires New Position in Guardant Health, Inc. $GH

Norges Bank bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,258,072 shares of the company’s stock, valued at approximately $128,499,000. Norges Bank owned 1.00% of Guardant Health at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of GH. V Square Quantitative Management LLC acquired a new stake in shares of Guardant Health during the 4th quarter worth approximately $27,000. Chesapeake Asset Management LLC acquired a new position in Guardant Health in the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Guardant Health in the fourth quarter valued at approximately $31,000. Elyxium Wealth LLC purchased a new position in Guardant Health in the fourth quarter worth approximately $35,000. Finally, First Pacific Financial purchased a new position in Guardant Health in the fourth quarter worth approximately $43,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $133.06 on Friday. The firm has a market capitalization of $17.64 billion, a PE ratio of -39.25 and a beta of 1.61. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $134.28. The firm’s 50-day moving average is $98.61 and its two-hundred day moving average is $100.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Guggenheim downgraded Guardant Health from a “buy” rating to a “buy” rating in a research report on Thursday, May 28th. TD Cowen reiterated a “buy” rating on shares of Guardant Health in a report on Thursday, May 21st. Citigroup raised their price objective on Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Stifel Nicolaus boosted their price objective on shares of Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, BTIG Research set a $160.00 target price on shares of Guardant Health and gave the company a “buy” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.80.

Insider Activity

In related news, Director Meghan V. Joyce sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $126.98, for a total transaction of $1,269,800.00. Following the sale, the director directly owned 11,183 shares of the company’s stock, valued at $1,420,017.34. This represents a 47.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian T. Clark sold 6,876 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $106.90, for a total transaction of $735,044.40. Following the sale, the director owned 2,975 shares in the company, valued at approximately $318,027.50. This trade represents a 69.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 340,944 shares of company stock worth $37,306,824 over the last 90 days. Company insiders own 5.60% of the company’s stock.

Guardant Health 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.