Gibbs Wealth Management Invests $548,000 in Guardant Health, Inc. $GH

Gibbs Wealth Management acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) during the first quarter, HoldingsChannel reports. The fund acquired 5,935 shares of the company’s stock, valued at approximately $548,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GH. V Square Quantitative Management LLC purchased a new position in Guardant Health during the fourth quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Guardant Health during the 4th quarter worth approximately $31,000. Elyxium Wealth LLC acquired a new stake in shares of Guardant Health in the 4th quarter valued at approximately $35,000. Parallel Advisors LLC boosted its stake in shares of Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 219 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in Guardant Health during the first quarter worth $38,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Price Performance

NASDAQ GH opened at $147.33 on Friday. Guardant Health, Inc. has a 12 month low of $40.35 and a 12 month high of $174.08. The company has a 50-day moving average of $139.41 and a 200-day moving average of $111.95. The company has a market cap of $19.54 billion, a P/E ratio of -43.46 and a beta of 1.59.

Analysts Set New Price Targets

A number of research firms have commented on GH. Wolfe Research began coverage on Guardant Health in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 target price for the company. Evercore reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Guardant Health in a research note on Monday, July 6th. Bank of America raised their target price on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 6th. BTIG Research upped their target price on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. One investment 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $160.04.

Insider Activity at Guardant Health

In related news, Director Musa Tariq sold 1,951 shares of Guardant Health stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16. Following the transaction, the director owned 11,048 shares in the company, valued at approximately $1,449,055.68. The trade was a 15.01% decrease in their position. The transaction 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, CFO Michael Brian Bell sold 2,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer owned 47,509 shares in the company, valued at approximately $6,110,607.58. This represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 708,565 shares of company stock valued at $90,556,597 over the last quarter. Company 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.