Corient Private Wealth LP Makes New Investment in Guardant Health, Inc. $GH

Corient Private Wealth LP bought a new position in Guardant Health, Inc. (NASDAQ:GH) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 10,169 shares of the company’s stock, valued at approximately $1,526,000.

Other hedge funds have also recently made changes to their positions in the company. Artia Global Partners LP bought a new position in shares of Guardant Health in the 2nd quarter valued at about $5,716,000. Bamco Inc. NY bought a new stake in Guardant Health during the second quarter worth approximately $2,475,000. Odyssean LLC bought a new stake in Guardant Health during the second quarter worth approximately $1,541,000. Jupiter Topco LLC purchased a new stake in Guardant Health during the second quarter valued at approximately $18,071,000. Finally, Kinetic Partners Management LP purchased a new stake in Guardant Health during the second quarter valued at approximately $19,489,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Guardant Health

In other news, Director Musa Tariq sold 1,951 shares of the firm’s stock in a transaction that occurred 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 directly owned 11,048 shares of the company’s stock, valued at approximately $1,449,055.68. This trade represents a 15.01% decrease in their ownership of the stock. 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 Ian Clark sold 14,180 shares of Guardant Health stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the sale, the director directly owned 2,975 shares of the company’s stock, valued at $472,787. This represents a 82.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 427,024 shares of company stock valued at $67,113,285. 5.60% of the stock is owned by corporate insiders.

Guardant Health Trading Down 1.2%

NASDAQ GH opened at $161.04 on Friday. The stock has a market cap of $21.61 billion, a PE ratio of -46.14 and a beta of 1.57. Guardant Health, Inc. has a 12 month low of $53.40 and a 12 month high of $176.58. The company’s 50-day moving average price is $159.65 and its 200-day moving average price is $122.46.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.44) EPS. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GH shares. Wolfe Research began coverage on Guardant Health in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 price objective for the company. Mizuho boosted their target price on Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley increased their price target on Guardant Health from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Sanford C. Bernstein raised their price target on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $195.00 price objective on shares of Guardant Health in a research note on Wednesday. One 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.78.

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.