Granite Investment Partners LLC Sells 62,473 Shares of Guardant Health, Inc. $GH

Granite Investment Partners LLC trimmed its stake in Guardant Health, Inc. (NASDAQ:GH) by 39.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,726 shares of the company’s stock after selling 62,473 shares during the quarter. Granite Investment Partners LLC’s holdings in Guardant Health were worth $8,842,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GH. Vanguard Group Inc. lifted its stake in Guardant Health by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company’s stock valued at $1,242,101,000 after purchasing an additional 251,939 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after buying an additional 1,414,441 shares during the period. Franklin Resources Inc. lifted its position in shares of Guardant Health by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock valued at $343,348,000 after buying an additional 435,232 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Guardant Health by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock valued at $328,297,000 after buying an additional 277,001 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Guardant Health by 3.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock worth $249,398,000 after acquiring an additional 72,162 shares during the period. 92.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GH. Royal Bank Of Canada started coverage on Guardant Health in a research note on Thursday, June 11th. They issued an “outperform” rating and a $185.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. Piper Sandler set a $127.00 price target on shares of Guardant Health in a research report on Thursday, May 21st. Guggenheim raised their price objective on shares of Guardant Health from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Mizuho lifted their price objective on shares of Guardant Health from $135.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.74.

Insider Transactions at Guardant Health

In other news, CEO Amirali Talasaz sold 210,000 shares of Guardant Health stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the completion of the sale, the chief executive officer owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. This trade represents a 10.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meghan V. Joyce sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total value of $1,269,800.00. Following the transaction, the director directly owned 11,183 shares of the company’s stock, valued at $1,420,017.34. The trade was a 47.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 708,681 shares of company stock valued at $90,566,438. Corporate insiders own 5.60% of the company’s stock.

Guardant Health Price Performance

NASDAQ GH opened at $156.17 on Thursday. The company’s 50 day simple moving average is $124.35 and its two-hundred day simple moving average is $107.49. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $174.08. The stock has a market capitalization of $20.71 billion, a PE ratio of -46.07 and a beta of 1.59.

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.