Jennison Associates LLC Sells 966,559 Shares of Guardant Health, Inc. $GH

Jennison Associates LLC decreased its position in Guardant Health, Inc. (NASDAQ:GH) by 82.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 203,778 shares of the company’s stock after selling 966,559 shares during the period. Jennison Associates LLC’s holdings in Guardant Health were worth $18,823,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Guardant Health during the 4th quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Guardant Health in the 4th quarter valued at about $31,000. Elyxium Wealth LLC acquired a new position in shares of Guardant Health in the 4th quarter valued at about $35,000. Parallel Advisors LLC boosted its position in shares of Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 219 shares in the last quarter. Finally, Ascentis Independent Advisors bought a new stake in shares of Guardant Health during the 1st quarter valued at about $38,000. Institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

GH has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Guardant Health in a research note on Friday, June 5th. They set a “buy” rating and a $165.00 target price for the company. Citigroup increased their price target on Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. UBS Group set a $150.00 price objective on shares of Guardant Health in a research report on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a research note on Friday. Finally, Piper Sandler set a $127.00 target price on shares of Guardant Health in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $160.04.

Guardant Health Stock Performance

Shares of GH opened at $152.29 on Wednesday. The firm has a market capitalization of $20.19 billion, a P/E ratio of -44.92 and a beta of 1.59. Guardant Health, Inc. has a 52 week low of $40.35 and a 52 week high of $174.08. The stock has a 50 day moving average price of $136.28 and a two-hundred day moving average price of $111.01.

Insider Activity at Guardant Health

In related news, insider John G. Saia sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $106.51, for a total transaction of $2,130,200.00. Following the completion of the sale, the insider owned 45,950 shares in the company, valued at approximately $4,894,134.50. This represents a 30.33% decrease in their ownership of the stock. The sale was disclosed in a 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, CEO Helmy Eltoukhy sold 100,000 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 708,565 shares of company stock valued at $90,556,597 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

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.