Cibc World Market Inc. Takes $722,000 Position in Guardant Health, Inc. $GH

Cibc World Market Inc. acquired a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 4,811 shares of the company’s stock, valued at approximately $722,000.

Several other hedge funds have also modified their holdings of GH. Elyxium Wealth LLC acquired a new position in shares of Guardant Health in the 4th quarter valued at $35,000. Parallel Advisors LLC increased its holdings 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 buying an additional 219 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Guardant Health during the 1st quarter worth $38,000. EFG International AG purchased a new position in shares of Guardant Health in the 4th quarter worth $41,000. Finally, Hollencrest Capital Management purchased a new position in shares of Guardant Health in the 1st quarter worth $41,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GH shares. Stifel Nicolaus boosted their price target on Guardant Health from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Citigroup raised their price objective on Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. TD Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Tuesday. Canaccord Genuity Group boosted their target price on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their target price on shares of Guardant Health from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and a consensus target price of $183.78.

Insider Activity

In other news, 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 owned 2,975 shares in the company, valued at $472,787. This trade represents a 82.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Freeman sold 63,605 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the transaction, the insider directly owned 65,374 shares in the company, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 548,318 shares of company stock worth $82,501,873 in the last ninety days. 5.60% of the stock is currently owned by company insiders.

Guardant Health Price Performance

NASDAQ:GH opened at $168.52 on Friday. The business’s 50-day moving average is $156.90 and its two-hundred day moving average is $120.47. The firm has a market capitalization of $22.62 billion, a PE ratio of -48.29 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 issued its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share 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 previous year, the company earned ($0.44) EPS. Guardant Health’s quarterly revenue was up 44.3% on a year-over-year basis. Equities analysts anticipate that Guardant Health, Inc. will post -2.98 EPS for the current year.

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.