Mangrove Partners IM LLC Invests $1.10 Million in Guardant Health, Inc. $GH

Mangrove Partners IM LLC acquired a new position in Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,737 shares of the company’s stock, valued at approximately $1,097,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GH. AQR Capital Management LLC boosted its holdings in Guardant Health by 56.5% during the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after buying an additional 25,831 shares in the last quarter. Empowered Funds LLC purchased a new stake in Guardant Health during the first quarter worth $274,000. Sei Investments Co. boosted its holdings in Guardant Health by 15.8% during the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock worth $4,023,000 after buying an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Guardant Health by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after buying an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Guardant Health by 56.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after buying an additional 40,209 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Stock Down 1.9%

GH opened at $127.34 on Wednesday. The company has a market cap of $16.89 billion, a price-to-earnings ratio of -37.56 and a beta of 1.61. Guardant Health, Inc. has a 52-week low of $40.35 and a 52-week high of $135.00. The firm’s fifty day simple moving average is $104.90 and its two-hundred day simple moving average is $102.36.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target 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. Citigroup increased their price target on shares of Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Royal Bank Of Canada assumed coverage on shares of Guardant Health in a report on Thursday, June 11th. They set an “outperform” rating and a $185.00 price target on the stock. Evercore raised shares of Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price target on the stock in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company increased their price target on shares of Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.95.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the 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 directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amirali Talasaz sold 210,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the transaction, the chief executive officer directly owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. The trade was a 10.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 449,006 shares of company stock valued at $51,148,938. Insiders own 5.60% of the company’s stock.

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.