Readystate Asset Management LP Invests $4.47 Million in Guardant Health, Inc. $GH

Readystate Asset Management LP purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,400 shares of the company’s stock, valued at approximately $4,471,000.

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

Guardant Health Price Performance

Shares of GH stock opened at $143.62 on Wednesday. The stock has a market cap of $19.04 billion, a PE ratio of -42.37 and a beta of 1.59. The stock has a 50-day moving average of $141.31 and a 200-day moving average of $112.49. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $174.08.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore restated an “outperform” rating and set a $200.00 target price on shares of Guardant Health in a research report on Monday, July 6th. Morgan Stanley increased their price objective on shares of Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Sanford C. Bernstein raised their price objective on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. BTIG Research lifted their target price on shares of Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group began coverage on shares of Guardant Health in a research report on Friday, June 5th. They set a “buy” rating and a $165.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.04.

Insider Activity

In other Guardant Health news, 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 sale, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Freeman sold 24,406 shares of Guardant Health stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the transaction, the insider directly owned 60,034 shares in the company, valued at approximately $7,124,234.78. This represents a 28.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 708,565 shares of company stock valued at $90,556,597. 5.60% of the stock is currently owned by company 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.