MPM Bioimpact LLC Decreases Stake in Guardant Health, Inc. (NASDAQ:GH)

MPM Bioimpact LLC lessened its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 452,739 shares of the company’s stock after selling 46,431 shares during the quarter. Guardant Health accounts for 2.0% of MPM Bioimpact LLC’s portfolio, making the stock its 19th biggest holding. MPM Bioimpact LLC’s holdings in Guardant Health were worth $13,831,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new stake in Guardant Health during the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Guardant Health during the 4th quarter valued at $43,000. Kimelman & Baird LLC acquired a new stake in Guardant Health during the 4th quarter worth about $58,000. NewEdge Advisors LLC lifted its position in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Guardant Health during the 4th quarter valued at about $80,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Trading Down 0.7%

GH stock opened at $41.36 on Wednesday. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $52.92. The company has a fifty day simple moving average of $43.73 and a 200 day simple moving average of $39.26. The firm has a market cap of $5.12 billion, a PE ratio of -11.62 and a beta of 1.49.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The firm had revenue of $203.47 million for the quarter, compared to the consensus estimate of $189.91 million. During the same quarter last year, the firm posted ($0.46) EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Activity at Guardant Health

In other news, CEO Amirali Talasaz sold 106,784 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the transaction, the chief executive officer now directly owns 2,202,672 shares in the company, valued at approximately $107,952,954.72. This represents a 4.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 107,132 shares of company stock valued at $5,249,355 over the last quarter. 6.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Scotiabank restated an “outperform” rating on shares of Guardant Health in a research report on Monday, May 5th. Guggenheim restated a “buy” rating and set a $56.00 target price on shares of Guardant Health in a report on Monday, February 24th. Mizuho initiated coverage on shares of Guardant Health in a research report on Thursday, April 10th. They set an “outperform” rating and a $55.00 price target on the stock. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Guardant Health in a research report on Wednesday, March 26th. Finally, TD Securities boosted their target price on Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Twenty-one analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Guardant Health has an average rating of “Buy” and an average target price of $52.32.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.