Mitsubishi UFJ Trust & Banking Corp Sells 5,134 Shares of Guardant Health, Inc. $GH

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,309 shares of the company’s stock after selling 5,134 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.14% of Guardant Health worth $11,141,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. ARK Investment Management LLC boosted its holdings in shares of Guardant Health by 100.4% during the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after acquiring an additional 1,414,381 shares during the last quarter. Norges Bank bought a new position in Guardant Health during the second quarter valued at approximately $64,136,000. Franklin Resources Inc. boosted its holdings in Guardant Health by 78.2% in the second quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock worth $120,730,000 after purchasing an additional 1,018,144 shares during the last quarter. Invesco Ltd. grew its position in Guardant Health by 27.3% in the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after purchasing an additional 763,834 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Guardant Health during the 2nd quarter valued at $37,233,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Trading Down 4.2%

Shares of NASDAQ:GH opened at $109.73 on Thursday. The stock has a 50 day moving average of $106.19 and a 200 day moving average of $78.94. The company has a market cap of $13.83 billion, a PE ratio of -34.18 and a beta of 1.58. Guardant Health, Inc. has a 12-month low of $34.88 and a 12-month high of $120.74.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.09. The firm’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) EPS. Equities research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, CEO Helmy Eltoukhy sold 90,565 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $103.82, for a total value of $9,402,458.30. Following the completion of the transaction, the chief executive officer owned 2,047,143 shares of the company’s stock, valued at $212,534,386.26. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Darya Chudova sold 5,451 shares of Guardant Health stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $104.04, for a total value of $567,122.04. Following the sale, the chief technology officer directly owned 7,012 shares in the company, valued at $729,528.48. This trade represents a 43.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 445,123 shares of company stock valued at $46,600,702. 6.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Leerink Partners raised their price target on Guardant Health from $115.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. raised their target price on Guardant Health from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Piper Sandler boosted their price target on Guardant Health from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. UBS Group increased their price objective on shares of Guardant Health from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Stifel Nicolaus boosted their target price on shares of Guardant Health from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Twenty-one analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.76.

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.