Two Sigma Securities LLC Invests $965,000 in Guardant Health, Inc. $GH

Two Sigma Securities LLC bought a new position in Guardant Health, Inc. (NASDAQ:GH) during the second quarter, according to its most recent filing with the SEC. The firm bought 6,432 shares of the company’s stock, valued at approximately $965,000.

Several other hedge funds have also bought and sold shares of GH. Orbimed Advisors LLC bought a new stake in shares of Guardant Health during the first quarter worth about $40,199,000. World Investment Advisors bought a new position in Guardant Health in the 4th quarter valued at about $1,664,000. GSA Capital Partners LLP acquired a new position in Guardant Health during the 2nd quarter valued at about $1,772,000. Ninepoint Partners LP bought a new stake in Guardant Health during the 2nd quarter worth approximately $2,853,000. Finally, Eagle Health Investments LP bought a new stake in Guardant Health during the 2nd quarter worth approximately $45,112,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Activity

In related news, CEO Amirali Talasaz sold 143,028 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the completion of the transaction, the chief executive officer owned 1,881,336 shares of the company’s stock, valued at approximately $285,097,657.44. The trade was a 7.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction 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 owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 548,318 shares of company stock valued at $82,501,873. 5.60% of the stock is currently owned by corporate insiders.

Guardant Health Stock Performance

Shares of GH stock opened at $159.02 on Tuesday. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of -45.56 and a beta of 1.60. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58. The firm’s 50-day simple moving average is $158.10 and its two-hundred day simple moving average is $121.24.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GH shares. JPMorgan Chase & Co. raised their target price on Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Stephens increased their price target on Guardant Health from $170.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Barclays lifted their price objective on shares of Guardant Health from $150.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Sanford C. Bernstein upped their target price on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Mizuho raised their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $183.78.

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.