Handelsbanken Fonder AB Boosts Holdings in Guardant Health, Inc. $GH

Handelsbanken Fonder AB boosted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 159.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,041 shares of the company’s stock after acquiring an additional 185,200 shares during the period. Handelsbanken Fonder AB owned about 0.23% of Guardant Health worth $45,165,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after purchasing an additional 25,831 shares during the last quarter. Empowered Funds LLC acquired a new stake in Guardant Health during the 1st quarter valued at $274,000. Sei Investments Co. increased its position in Guardant Health by 15.8% during the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock worth $4,023,000 after buying an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Guardant Health by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after buying an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Guardant Health by 56.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after acquiring an additional 40,209 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Guardant Health

In other news, Director Ian T. Clark sold 14,180 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the completion of the sale, the director owned 2,975 shares in the company, valued at approximately $472,787. The trade was a 82.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Medina Manuel Hidalgo sold 1,700 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total transaction of $279,208.00. Following the sale, the director directly owned 4,556 shares of the company’s stock, valued at approximately $748,277.44. This trade represents a 27.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 738,050 shares of company stock valued at $98,859,427 over the last three months. Insiders own 5.60% of the company’s stock.

Guardant Health Stock Down 1.3%

GH stock opened at $165.09 on Wednesday. The company has a market cap of $22.15 billion, a price-to-earnings ratio of -47.30 and a beta of 1.60. The business has a fifty day simple moving average of $148.48 and a 200-day simple moving average of $115.94. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Mizuho upped their price objective on Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Guggenheim boosted their target price on shares of Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Sanford C. Bernstein upped their target price on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Morgan Stanley lifted their price target on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Guardant Health has an average rating of “Moderate Buy” and an average price target of $183.78.

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.