J. Safra Sarasin Holding AG Purchases Shares of 5,928 Guardant Health, Inc. $GH

J. Safra Sarasin Holding AG acquired a new position in shares of Guardant Health, Inc. (NASDAQ:GH) in the first quarter, Holdings Channel reports. The fund acquired 5,928 shares of the company’s stock, valued at approximately $548,000.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Guardant Health by 19.5% during the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after purchasing an additional 138 shares during the period. Eastern Bank lifted its stake in Guardant Health by 6.9% in the fourth quarter. Eastern Bank now owns 2,160 shares of the company’s stock valued at $221,000 after buying an additional 139 shares during the period. First Pacific Financial boosted its holdings in Guardant Health by 33.1% during the first quarter. First Pacific Financial now owns 559 shares of the company’s stock worth $52,000 after buying an additional 139 shares during the last quarter. Xponance LLC grew its position in shares of Guardant Health by 2.1% during the 4th quarter. Xponance LLC now owns 9,630 shares of the company’s stock worth $984,000 after buying an additional 199 shares during the period. Finally, Danske Bank A S grew its position in shares of Guardant Health by 20.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the company’s stock worth $123,000 after buying an additional 200 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Stock Performance

NASDAQ GH opened at $162.96 on Thursday. The stock has a market cap of $21.61 billion, a PE ratio of -48.07 and a beta of 1.59. The firm has a 50-day moving average of $131.75 and a 200-day moving average of $109.58. Guardant Health, Inc. has a 52-week low of $40.35 and a 52-week high of $174.08.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GH. Royal Bank Of Canada assumed coverage on shares of Guardant Health in a research report on Thursday, June 11th. They issued an “outperform” rating and a $185.00 price target on the stock. Sanford C. Bernstein upped their target price on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Piper Sandler set a $127.00 target price on shares of Guardant Health in a report on Thursday, May 21st. Citigroup lifted their price target on shares of Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, May 8th. 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 company’s stock. According to data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.74.

Insider Activity

In other news, Director Myrtle S. Potter sold 1,556 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $204,084.96. Following the transaction, the director owned 20,971 shares of the company’s stock, valued at approximately $2,750,556.36. This represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer owned 47,509 shares in the company, valued at approximately $6,110,607.58. This trade represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 708,565 shares of company stock valued at $90,556,597. Company insiders own 5.60% of the company’s stock.

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.