Orbimed Advisors LLC Buys Shares of 435,200 Guardant Health, Inc. $GH

Orbimed Advisors LLC purchased a new position in Guardant Health, Inc. (NASDAQ:GH) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 435,200 shares of the company’s stock, valued at approximately $40,199,000. Orbimed Advisors LLC owned about 0.33% of Guardant Health at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GH. Styrax Capital LP raised its stake in shares of Guardant Health by 6.5% in the 1st quarter. Styrax Capital LP now owns 300,000 shares of the company’s stock valued at $27,711,000 after acquiring an additional 18,411 shares in the last quarter. Waverly Advisors LLC acquired a new stake in Guardant Health in the 1st quarter worth approximately $269,000. Caxton Associates LLP bought a new stake in Guardant Health during the first quarter worth approximately $831,000. Inceptionr LLC boosted its position in Guardant Health by 89.5% during the first quarter. Inceptionr LLC now owns 12,762 shares of the company’s stock worth $1,179,000 after purchasing an additional 6,029 shares during the period. Finally, Gibbs Wealth Management acquired a new position in Guardant Health during the first quarter valued at approximately $548,000. Institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling

In other news, Director Musa Tariq sold 1,951 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16. Following the completion of the transaction, the director owned 11,048 shares of the company’s stock, valued at approximately $1,449,055.68. This represents a 15.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of Guardant Health 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 sale, the chief financial officer directly owned 47,509 shares in the company, valued at approximately $6,110,607.58. This trade represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 708,565 shares of company stock worth $90,556,597. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GH shares. Morgan Stanley lifted their price target on shares of Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Wolfe Research initiated coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 target price on the stock. Mizuho lifted their target price on shares of Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. JPMorgan Chase & Co. lifted their target price on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Evercore reissued an “outperform” rating and set a $200.00 target price on shares of Guardant Health in a research report on Monday, July 6th. One investment 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. According to MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.04.

Guardant Health Stock Performance

Shares of GH stock opened at $147.33 on Monday. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $174.08. The firm’s fifty day simple moving average is $139.41 and its 200 day simple moving average is $112.02. The firm has a market capitalization of $19.54 billion, a P/E ratio of -43.46 and a beta of 1.59.

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.