Guardant Health, Inc. $GH Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 43.9% during the first quarter, Holdings Channel reports. The institutional investor owned 337,600 shares of the company’s stock after selling 264,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Guardant Health were worth $31,184,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Guardant Health in the 4th quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Guardant Health in the 4th quarter valued at $31,000. Elyxium Wealth LLC purchased a new stake in shares of Guardant Health during the 4th quarter worth $35,000. Parallel Advisors LLC lifted its position in shares of Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 219 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Guardant Health during the first quarter worth $38,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GH shares. Guggenheim increased their target price on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Wolfe Research initiated coverage on Guardant Health in a report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price target for the company. Canaccord Genuity Group upped their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group started coverage on Guardant Health in a report on Friday, June 5th. They issued a “buy” rating and a $165.00 price objective on the stock. Finally, Morgan Stanley raised their target price on Guardant Health from $130.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Guardant Health has an average rating of “Moderate Buy” and a consensus price target of $160.04.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 143,028 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the transaction, the chief executive officer owned 1,881,336 shares in the company, valued at $285,097,657.44. This represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer directly owned 47,509 shares in the company, valued at approximately $6,110,607.58. The trade was a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 708,565 shares of company stock valued at $90,556,597 over the last quarter. 5.60% of the stock is owned by corporate insiders.

Guardant Health Price Performance

NASDAQ GH opened at $143.62 on Wednesday. The firm’s fifty day moving average price is $141.31 and its 200 day moving average price is $112.49. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of -42.37 and a beta of 1.59. Guardant Health, Inc. has a 12 month low of $40.35 and a 12 month high of $174.08.

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.