Castleark Management LLC Buys Shares of 80,293 Guardant Health, Inc. $GH

Castleark Management LLC purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the second quarter, Holdings Channel.com reports. The fund purchased 80,293 shares of the company’s stock, valued at approximately $12,046,000.

Several other hedge funds have also made changes to their positions in GH. Elyxium Wealth LLC purchased a new position in shares of Guardant Health in the fourth quarter valued at approximately $35,000. Parallel Advisors LLC increased its stake in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares during the period. Ascentis Independent Advisors purchased a new stake in Guardant Health during the 1st quarter worth approximately $38,000. Hollencrest Capital Management acquired a new stake in Guardant Health during the 1st quarter worth approximately $41,000. Finally, EFG International AG acquired a new stake in Guardant Health during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

GH has been the subject of several research reports. Stephens boosted their price target on shares of Guardant Health from $170.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group increased their price objective on Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada lifted their target price on Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Wolfe Research initiated coverage on Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price for the company. Finally, Barclays upped their price target on Guardant Health from $150.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $183.78.

Insider Activity

In related news, Director Ian T. Clark sold 14,180 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the sale, the director directly owned 2,975 shares of the company’s stock, valued at $472,787. The trade was a 82.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,700 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $164.24, for a total transaction of $279,208.00. Following the completion of the transaction, the director owned 4,556 shares of the company’s stock, valued at $748,277.44. This represents a 27.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 549,318 shares of company stock worth $82,631,933 over the last three months. Company insiders own 5.60% of the company’s stock.

Guardant Health Stock Up 1.1%

Shares of Guardant Health stock opened at $164.92 on Wednesday. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58. The firm’s 50 day moving average is $155.33 and its two-hundred day moving average is $119.49. The firm has a market capitalization of $22.13 billion, a P/E ratio of -47.25 and a beta of 1.60.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to analysts’ expectations of $314.23 million. During the same quarter in the prior year, the firm posted ($0.44) EPS. The firm’s quarterly revenue was up 44.3% compared to the same quarter last year. As a group, research analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

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.