Temasek Holdings Private Ltd Sells 58,526 Shares of Guardant Health, Inc. $GH

Temasek Holdings Private Ltd cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 985,571 shares of the company’s stock after selling 58,526 shares during the period. Temasek Holdings Private Ltd’s holdings in Guardant Health were worth $91,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GH. PNC Financial Services Group Inc. boosted its holdings in shares of Guardant Health by 22.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,424 shares of the company’s stock worth $870,000 after purchasing an additional 1,709 shares during the period. Hollencrest Capital Management bought a new position in shares of Guardant Health during the 1st quarter valued at approximately $41,000. WCM Investment Management LLC raised its holdings in Guardant Health by 57.3% during the 1st quarter. WCM Investment Management LLC now owns 169,731 shares of the company’s stock valued at $14,631,000 after buying an additional 61,800 shares during the period. KBC Group NV raised its holdings in Guardant Health by 140.5% during the 1st quarter. KBC Group NV now owns 7,537 shares of the company’s stock valued at $696,000 after buying an additional 4,403 shares during the period. Finally, Swiss National Bank raised its holdings in Guardant Health by 0.4% during the 1st quarter. Swiss National Bank now owns 222,100 shares of the company’s stock valued at $20,515,000 after buying an additional 800 shares during the period. 92.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Guardant Health news, insider John G. Saia sold 20,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $106.51, for a total value of $2,130,200.00. Following the sale, the insider owned 45,950 shares in the company, valued at $4,894,134.50. This trade represents a 30.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 24,406 shares of Guardant Health stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $118.67, for a total value of $2,896,260.02. Following the sale, the insider owned 60,034 shares of the company’s stock, valued at approximately $7,124,234.78. This trade represents a 28.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 708,565 shares of company stock worth $90,556,597 over the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

GH has been the subject of several recent analyst reports. Wolfe Research started coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price objective for the company. Morgan Stanley increased their target price on shares of Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. TD Cowen restated a “buy” rating on shares of Guardant Health in a report on Thursday, July 2nd. Piper Sandler set a $127.00 target price on shares of Guardant Health in a report on Thursday, May 21st. Finally, Royal Bank Of Canada assumed coverage on shares of Guardant Health in a research note on Thursday, June 11th. They set an “outperform” rating and a $185.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.04.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $152.29 on Wednesday. Guardant Health, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $174.08. The company has a market cap of $20.19 billion, a price-to-earnings ratio of -44.92 and a beta of 1.59. The business’s 50 day moving average price is $136.28 and its 200-day moving average price is $111.01.

About Guardant Health

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.