Engineers Gate Manager LP Grows Stake in Guardant Health, Inc. $GH

Engineers Gate Manager LP increased its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,180 shares of the company’s stock after purchasing an additional 14,179 shares during the period. Engineers Gate Manager LP’s holdings in Guardant Health were worth $12,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orbimed Advisors LLC purchased a new position in shares of Guardant Health in the first quarter valued at approximately $40,199,000. World Investment Advisors purchased a new stake in shares of Guardant Health during the fourth quarter worth approximately $1,664,000. GSA Capital Partners LLP purchased a new stake in shares of Guardant Health during the second quarter worth approximately $1,772,000. Ninepoint Partners LP acquired a new position in Guardant Health in the 2nd quarter valued at $2,853,000. Finally, SWS Partners acquired a new position in Guardant Health in the 2nd quarter valued at $11,190,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

NASDAQ GH opened at $159.03 on Friday. The stock’s fifty day moving average is $159.93 and its two-hundred day moving average is $124.41. The firm has a market capitalization of $21.34 billion, a P/E ratio of -45.57 and a beta of 1.57. Guardant Health, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $176.58.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) EPS 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 earned ($0.44) EPS. The firm’s revenue was up 44.3% on a year-over-year basis. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.98 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on GH. Bank of America lifted their target price on shares of Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their target price on shares of Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. BTIG Research reissued a “buy” rating and issued a $195.00 price target on shares of Guardant Health in a research note on Wednesday, September 2nd. Morgan Stanley raised their price target on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Citigroup upped their price objective on shares of Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $188.12.

Insider Activity

In other news, insider Chris Freeman sold 63,605 shares of the firm’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 sale, the insider owned 65,374 shares in the company, valued at $11,086,122.92. This trade represents a 49.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amirali Talasaz sold 37,500 shares of Guardant Health stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the sale, the chief executive officer directly owned 37,500 shares in the company, valued at approximately $6,343,500. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 427,024 shares of company stock valued at $67,113,285 in the last quarter. Insiders own 5.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.