Eventide Asset Management LLC Reduces Holdings in Guardant Health, Inc. $GH

Eventide Asset Management LLC trimmed its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,511,091 shares of the company’s stock after selling 810,247 shares during the quarter. Guardant Health comprises 4.0% of Eventide Asset Management LLC’s holdings, making the stock its biggest position. Eventide Asset Management LLC owned about 1.99% of Guardant Health worth $256,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP raised its position in shares of Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares in the last quarter. Eastern Bank raised its position in shares of Guardant Health by 6.9% during the 4th quarter. Eastern Bank now owns 2,160 shares of the company’s stock worth $221,000 after buying an additional 139 shares in the last quarter. Xponance LLC raised its position in shares of Guardant Health by 2.1% during the 4th quarter. Xponance LLC now owns 9,630 shares of the company’s stock worth $984,000 after buying an additional 199 shares in the last quarter. Danske Bank A S raised its position in shares of Guardant Health by 20.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the company’s stock worth $123,000 after buying an additional 200 shares in the last quarter. Finally, Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna raised its position in shares of Guardant Health by 1.9% during the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 11,000 shares of the company’s stock worth $1,124,000 after buying an additional 200 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider John G. Saia sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $106.51, for a total transaction of $2,130,200.00. Following the transaction, the insider directly owned 45,950 shares of the company’s stock, valued at approximately $4,894,134.50. The trade was a 30.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 24,406 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the transaction, the insider directly owned 60,034 shares in the company, valued at $7,124,234.78. The trade was a 28.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 452,238 shares of company stock valued at $51,425,612 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on GH shares. Mizuho boosted their target price on shares of Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Piper Sandler set a $127.00 target price on shares of Guardant Health in a report on Thursday, May 21st. Canaccord Genuity Group boosted their target price on shares of Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 20th. The Goldman Sachs Group started coverage on shares of Guardant Health in a report on Friday, June 5th. They issued a “buy” rating and a $165.00 target price on the stock. Finally, Leerink Partners boosted their target price on shares of Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.95.

Guardant Health Price Performance

Guardant Health stock opened at $131.62 on Friday. The firm’s 50 day simple moving average is $103.51 and its 200-day simple moving average is $102.14. The company has a market cap of $17.45 billion, a P/E ratio of -38.83 and a beta of 1.61. Guardant Health, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $134.28.

Guardant Health 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.