Guardant Health, Inc. $GH Stock Position Raised by WCM Investment Management LLC

WCM Investment Management LLC increased its position in Guardant Health, Inc. (NASDAQ:GH) by 57.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 169,731 shares of the company’s stock after purchasing an additional 61,800 shares during the period. WCM Investment Management LLC owned about 0.13% of Guardant Health worth $14,631,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock valued at $3,012,000 after purchasing an additional 25,831 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Guardant Health during the first quarter valued at $274,000. Sei Investments Co. grew its holdings in shares of Guardant Health by 15.8% during the second 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 in the last quarter. The Manufacturers Life Insurance Company raised its position 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 valued at $32,922,000 after buying an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Guardant Health by 56.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after acquiring an additional 40,209 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GH has been the subject of a number of research reports. Piper Sandler set a $127.00 price objective on Guardant Health in a research report on Thursday, May 21st. Royal Bank Of Canada began coverage on Guardant Health in a report on Thursday, June 11th. They issued an “outperform” rating and a $185.00 target price on the stock. Evercore reissued an “outperform” rating and issued a $200.00 price target on shares of Guardant Health in a research report on Monday, July 6th. The Goldman Sachs Group started coverage on shares of Guardant Health in a report on Friday, June 5th. They set a “buy” rating and a $165.00 price target for the company. Finally, Bank of America boosted their price objective on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Guardant Health has a consensus rating of “Moderate Buy” and an average target price of $160.04.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $148.07 on Tuesday. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $174.08. The business’s 50-day moving average price is $135.24 and its two-hundred day moving average price is $110.66. The company has a market capitalization of $19.63 billion, a P/E ratio of -43.68 and a beta of 1.59.

Insiders Place Their Bets

In other Guardant Health news, Director Myrtle S. Potter sold 1,556 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total value of $204,084.96. Following the completion of the sale, the director directly owned 20,971 shares of the company’s stock, valued at $2,750,556.36. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,012,919 shares in the company, valued at $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 708,565 shares of company stock worth $90,556,597 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

About Guardant Health

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.