Jupiter Topco LLC Makes New $18.07 Million Investment in Guardant Health, Inc. $GH

Jupiter Topco LLC bought a new position in Guardant Health, Inc. (NASDAQ:GH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 120,471 shares of the company’s stock, valued at approximately $18,071,000. Jupiter Topco LLC owned about 0.09% of Guardant Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GH. Kinetic Partners Management LP acquired a new position in Guardant Health during the 2nd quarter worth $19,489,000. ABS Investment Management LLC acquired a new stake in shares of Guardant Health in the 2nd quarter valued at $345,069,000. Hsbc Holdings PLC bought a new stake in shares of Guardant Health during the second quarter worth $15,910,000. EFG International AG bought a new stake in shares of Guardant Health during the second quarter worth $60,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Guardant Health during the second quarter valued at $26,000,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Trading Down 4.2%

NASDAQ:GH opened at $161.50 on Friday. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58. The business’s 50-day moving average price is $157.49 and its two-hundred day moving average price is $120.75. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of -46.27 and a beta of 1.60.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. Guardant Health’s quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. Sell-side analysts predict that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Analyst Ratings Changes

GH has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and issued a $200.00 price target on shares of Guardant Health in a report on Monday, July 6th. Canaccord Genuity Group boosted their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. TD Cowen reiterated a “buy” rating on shares of Guardant Health in a research report on Tuesday. Piper Sandler boosted their price target on shares of Guardant Health from $135.00 to $193.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Stephens increased their price objective on shares of Guardant Health from $170.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.78.

Insider Buying and Selling at Guardant Health

In related news, insider Chris Freeman sold 63,605 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the transaction, the insider owned 65,374 shares in the company, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terilyn J. Monroe sold 46,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the transaction, the insider owned 22,979 shares of the company’s stock, valued at approximately $3,794,292.48. This represents a 66.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 548,318 shares of company stock worth $82,501,873 over the last ninety days. 5.60% of the stock is owned by corporate insiders.

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.