Guardant Health (NASDAQ:GH) CEO Sells $12,630,000.00 in Stock

Guardant Health, Inc. (NASDAQ:GH) CEO Helmy Eltoukhy sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $126.30, for a total value of $12,630,000.00. Following the transaction, the chief executive officer owned 2,012,919 shares in the company, valued at $254,231,669.70. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Guardant Health Stock Performance

GH stock opened at $130.70 on Thursday. Guardant Health, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $134.28. The business’s 50 day moving average price is $101.93 and its two-hundred day moving average price is $101.75. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of -38.55 and a beta of 1.61.

Analyst Ratings Changes

A number of research analysts have weighed in on GH shares. The Goldman Sachs Group started coverage on Guardant Health in a report on Friday, June 5th. They set a “buy” rating and a $165.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and set a $129.00 target price on shares of Guardant Health in a report on Monday, February 23rd. Stifel Nicolaus boosted their price target on Guardant Health from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Evercore raised Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price target on the stock in a research report on Tuesday, June 2nd. Finally, Canaccord Genuity Group boosted their price target on Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.80.

Institutional Trading of Guardant Health

Several institutional investors have recently added to or reduced their stakes in GH. AQR Capital Management LLC lifted its holdings in shares of Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock valued at $3,012,000 after buying an additional 25,831 shares during the period. Empowered Funds LLC bought a new position in shares of Guardant Health during the 1st quarter valued at $274,000. Sei Investments Co. lifted its holdings in shares of Guardant Health by 15.8% during the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after buying an additional 10,538 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after buying an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Guardant Health by 56.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock valued at $5,800,000 after buying an additional 40,209 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.