Temasek Holdings Private Ltd Sells 58,526 Shares of Guardant Health, Inc. $GH

Temasek Holdings Private Ltd lowered its position in Guardant Health, Inc. (NASDAQ:GH) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 985,571 shares of the company’s stock after selling 58,526 shares during the period. Temasek Holdings Private Ltd owned about 0.74% of Guardant Health worth $91,037,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Guardant Health by 22.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,424 shares of the company’s stock valued at $870,000 after acquiring an additional 1,709 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Guardant Health during the first quarter worth about $41,000. WCM Investment Management LLC raised its stake in Guardant Health by 57.3% during the 1st quarter. WCM Investment Management LLC now owns 169,731 shares of the company’s stock valued at $14,631,000 after purchasing an additional 61,800 shares during the period. KBC Group NV lifted its holdings in Guardant Health by 140.5% in the 1st quarter. KBC Group NV now owns 7,537 shares of the company’s stock worth $696,000 after purchasing an additional 4,403 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Guardant Health by 0.4% in the 1st quarter. Swiss National Bank now owns 222,100 shares of the company’s stock worth $20,515,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Price Performance

NASDAQ GH opened at $152.29 on Wednesday. Guardant Health, Inc. has a 1-year low of $40.35 and a 1-year high of $174.08. The business has a 50 day simple moving average of $136.28 and a two-hundred day simple moving average of $111.01. The stock has a market capitalization of $20.19 billion, a PE ratio of -44.92 and a beta of 1.59.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GH shares. The Goldman Sachs Group assumed coverage on shares of Guardant Health in a research report on Friday, June 5th. They set a “buy” rating and a $165.00 price objective on the stock. Sanford C. Bernstein upped their target price on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Canaccord Genuity Group lifted their price target on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada initiated coverage on shares of Guardant Health in a research note on Thursday, June 11th. They issued an “outperform” rating and a $185.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.04.

Insider Activity

In other news, Director Meghan V. Joyce sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total transaction of $1,269,800.00. Following the completion of the transaction, the director directly owned 11,183 shares in the company, valued at approximately $1,420,017.34. This represents a 47.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the sale, the chief executive officer owned 2,012,919 shares in the company, valued at $254,231,669.70. This represents a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 708,565 shares of company stock worth $90,556,597. 5.60% of the stock is owned by corporate insiders.

Guardant Health Company 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.