Polar Asset Management Partners Inc. Grows Position in Guardant Health, Inc. (NASDAQ:GH)

Polar Asset Management Partners Inc. increased its position in Guardant Health, Inc. (NASDAQ:GH) by 1,902.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 454,500 shares of the company’s stock after purchasing an additional 431,800 shares during the period. Polar Asset Management Partners Inc.’s holdings in Guardant Health were worth $13,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GH. Fiduciary Alliance LLC raised its holdings in shares of Guardant Health by 7.6% during the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after acquiring an additional 836 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Guardant Health in the fourth quarter worth $252,000. KBC Group NV grew its stake in Guardant Health by 63.6% in the fourth quarter. KBC Group NV now owns 5,658 shares of the company’s stock worth $173,000 after purchasing an additional 2,200 shares during the period. R Squared Ltd bought a new position in Guardant Health in the fourth quarter worth $26,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Guardant Health by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,198 shares of the company’s stock valued at $800,000 after buying an additional 2,537 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Amirali Talasaz sold 106,784 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $49.01, for a total value of $5,233,483.84. Following the transaction, the chief executive officer now owns 2,202,672 shares of the company’s stock, valued at $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 available through the SEC website. Over the last ninety days, insiders sold 107,132 shares of company stock valued at $5,249,355. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group upped their price target on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Piper Sandler reiterated an “overweight” rating and set a $60.00 price objective (up previously from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Guardant Health in a research report on Wednesday, March 26th. Twenty-one investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $52.32.

Guardant Health Price Performance

Guardant Health stock opened at $40.72 on Thursday. The firm has a market capitalization of $5.04 billion, a P/E ratio of -11.44 and a beta of 1.49. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $52.92. The company’s 50-day moving average is $43.76 and its 200 day moving average is $39.27.

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

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.