Guardant Health, Inc. $GH Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lowered its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 59.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,820 shares of the company’s stock after selling 9,830 shares during the period. Pier 88 Investment Partners LLC’s holdings in Guardant Health were worth $697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of Guardant Health in the 4th quarter valued at $27,000. Chesapeake Asset Management LLC acquired a new position in shares of Guardant Health in the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Guardant Health in the 4th quarter valued at $31,000. First Pacific Financial acquired a new position in shares of Guardant Health in the 4th quarter valued at $43,000. Finally, Optiver Holding B.V. lifted its stake in shares of Guardant Health by 153.5% in the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock valued at $48,000 after purchasing an additional 465 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Trading Up 1.1%

GH stock opened at $96.71 on Tuesday. The company has a market capitalization of $12.82 billion, a PE ratio of -28.53 and a beta of 1.48. Guardant Health, Inc. has a 12-month low of $36.36 and a 12-month high of $120.74. The business’s fifty day moving average price is $88.91 and its 200 day moving average price is $97.31.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The company had revenue of $281.27 million during the quarter, compared to analysts’ expectations of $269.74 million. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.62) EPS. Research analysts predict that Guardant Health, Inc. will post -2.87 EPS for the current fiscal year.

Analysts Set New Price Targets

GH has been the topic of several recent analyst reports. Leerink Partners upped their price target on Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Evercore set a $110.00 price target on Guardant Health in a research note on Friday, February 20th. Barclays upped their price target on Guardant Health from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday. Canaccord Genuity Group upped their price target on Guardant Health from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Robert W. Baird initiated coverage on Guardant Health in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 price target on the stock. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.16.

Insider Transactions at Guardant Health

In related news, Director Musa Tariq sold 348 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $88.09, for a total value of $30,655.32. Following the sale, the director owned 8,394 shares in the company, valued at approximately $739,427.46. The trade was a 3.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,300 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $91.54, for a total value of $119,002.00. Following the completion of the sale, the director owned 1,193 shares in the company, valued at $109,207.22. This represents a 52.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,596 shares of company stock worth $775,767 over the last quarter. 5.60% of the stock is owned by corporate insiders.

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.