Guardant Health, Inc. $GH Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lessened its stake in Guardant Health, Inc. (NASDAQ:GH) by 86.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 23,595 shares of the company’s stock after selling 154,251 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Guardant Health were worth $1,474,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Bancorp USA Inc. acquired a new stake in Guardant Health in the third quarter valued at approximately $796,000. Danske Bank A S purchased a new position in Guardant Health in the third quarter worth approximately $62,000. Castleark Management LLC grew its holdings in Guardant Health by 31.7% during the 3rd quarter. Castleark Management LLC now owns 160,073 shares of the company’s stock worth $10,001,000 after acquiring an additional 38,513 shares in the last quarter. PharVision Advisers LLC acquired a new position in Guardant Health during the 3rd quarter worth approximately $273,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Guardant Health in the 3rd quarter valued at approximately $114,421,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GH. Robert W. Baird started coverage on shares of Guardant Health in a report on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Guardant Health from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Guggenheim raised their price target on Guardant Health from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Citigroup lifted their price target on Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Piper Sandler upped their price objective on Guardant Health from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. Twenty-one equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average target price of $122.57.

Insider Buying and Selling

In related news, Director Musa Tariq sold 348 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $88.09, for a total transaction of $30,655.32. Following the completion of the sale, the director directly owned 8,394 shares of the company’s stock, valued at $739,427.46. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Brian Bell sold 3,000 shares of Guardant Health stock in a transaction on Monday, March 16th. The shares were sold at an average price of $87.04, for a total transaction of $261,120.00. Following the completion of the transaction, the chief financial officer owned 43,601 shares in the company, valued at approximately $3,795,031.04. This trade represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,250 shares of company stock worth $2,512,917 over the last three months. 6.10% of the stock is owned by company insiders.

Guardant Health Stock Up 2.1%

NASDAQ GH opened at $89.08 on Friday. The firm has a market cap of $11.68 billion, a P/E ratio of -26.91 and a beta of 1.67. Guardant Health, Inc. has a 52-week low of $36.36 and a 52-week high of $120.74. The business’s 50-day moving average price is $102.31 and its 200 day moving average price is $90.30.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to analysts’ expectations of $269.74 million. During the same period in the previous year, the company posted ($0.62) earnings per share. The firm’s revenue was up 39.4% compared to the same quarter last year. As a group, analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Guardant Health Company Profile

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.