Wealthfront Advisers LLC Invests $458,000 in Guardant Health, Inc. $GH

Wealthfront Advisers LLC bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,051 shares of the company’s stock, valued at approximately $458,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after buying an additional 25,831 shares during the last quarter. Empowered Funds LLC bought a new position in Guardant Health during the first quarter valued at $274,000. Sei Investments Co. raised its stake in shares of Guardant Health by 15.8% in the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Guardant Health by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after acquiring an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Guardant Health by 56.4% in the 2nd 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. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the transaction, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ian T. Clark sold 14,180 shares of Guardant Health stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the sale, the director directly owned 2,975 shares of the company’s stock, valued at $472,787. This represents a 82.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 521,818 shares of company stock worth $77,539,233. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GH has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Stifel Nicolaus increased their price objective on shares of Guardant Health from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Guardant Health from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Evercore restated an “outperform” rating and set a $200.00 target price on shares of Guardant Health in a research report on Monday, July 6th. Finally, Morgan Stanley upped their target price on Guardant Health from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Guardant Health has a consensus rating of “Moderate Buy” and an average target price of $183.78.

Guardant Health Trading Up 1.7%

Shares of GH opened at $170.69 on Friday. The firm has a fifty day moving average price of $153.91 and a 200-day moving average price of $118.69. The firm has a market capitalization of $22.91 billion, a P/E ratio of -48.91 and a beta of 1.60. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same period in the prior year, the business earned ($0.44) EPS. The company’s quarterly revenue was up 44.3% on a year-over-year basis. Analysts predict that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Guardant Health 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.