12,400 Shares in Guardant Health, Inc. $GH Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,400 shares of the company’s stock, valued at approximately $645,000.

Several other large investors have also added to or reduced their stakes in GH. Signaturefd LLC increased its holdings in shares of Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after purchasing an additional 213 shares during the period. IFP Advisors Inc boosted its position in Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock valued at $33,000 after buying an additional 334 shares during the last quarter. SVB Wealth LLC acquired a new position in Guardant Health in the 1st quarter worth approximately $54,000. FNY Investment Advisers LLC purchased a new position in Guardant Health during the 2nd quarter worth approximately $62,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Guardant Health during the 1st quarter valued at approximately $97,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling

In related news, CEO Helmy Eltoukhy sold 300,000 shares of Guardant Health stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the sale, the chief executive officer owned 2,123,499 shares of the company’s stock, valued at approximately $126,242,015.55. This trade represents a 12.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $54.16, for a total transaction of $117,256.40. Following the transaction, the director owned 851 shares of the company’s stock, valued at $46,090.16. This represents a 71.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 302,691 shares of company stock valued at $17,984,628 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GH. Raymond James Financial increased their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Barclays upped their price target on shares of Guardant Health from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Leerink Partners lifted their price objective on Guardant Health from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th. UBS Group boosted their price objective on Guardant Health from $80.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Cowen reaffirmed a “buy” rating on shares of Guardant Health in a report on Thursday, October 30th. Twenty-three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Guardant Health has an average rating of “Moderate Buy” and an average target price of $77.14.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $96.72 on Friday. The firm has a 50-day simple moving average of $67.52 and a two-hundred day simple moving average of $55.05. Guardant Health, Inc. has a fifty-two week low of $28.20 and a fifty-two week high of $100.22. The company has a market cap of $12.19 billion, a P/E ratio of -30.13 and a beta of 1.56.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, October 29th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.26). The firm had revenue of $265.20 million during the quarter, compared to analysts’ expectations of $235.72 million. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.88) EPS. Guardant Health has set its FY 2025 guidance at EPS. Equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

About Guardant Health

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.