Rhenman & Partners Asset Management AB Acquires 30,000 Shares of Guardant Health, Inc. $GH

Rhenman & Partners Asset Management AB increased its holdings in Guardant Health, Inc. (NASDAQ:GH) by 60.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,000 shares of the company’s stock after purchasing an additional 30,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Guardant Health were worth $8,171,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Guardant Health by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company’s stock worth $1,242,101,000 after purchasing an additional 251,939 shares during the last quarter. Franklin Resources Inc. increased its position in 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 last quarter. Geode Capital Management LLC increased its position in Guardant Health by 9.4% during 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. Fuller & Thaler Asset Management Inc. increased its position in Guardant Health by 3.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock valued at $249,398,000 after acquiring an additional 72,162 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Guardant Health by 14.4% during the fourth quarter. Federated Hermes Inc. now owns 2,031,562 shares of the company’s stock valued at $207,504,000 after acquiring an additional 255,193 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Trading Up 0.6%

NASDAQ GH opened at $131.62 on Friday. The company’s 50-day moving average price is $103.51 and its 200-day moving average price is $102.14. The stock has a market cap of $17.45 billion, a PE ratio of -38.83 and a beta of 1.61. Guardant Health, Inc. has a 12 month low of $40.35 and a 12 month high of $134.28.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GH. TD Cowen reiterated a “buy” rating on shares of Guardant Health in a research report on Thursday, May 21st. Leerink Partners boosted their price objective on shares of Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Royal Bank Of Canada began coverage on shares of Guardant Health in a research report on Thursday. They set an “outperform” rating and a $185.00 price objective on the stock. Raymond James Financial reiterated an “outperform” rating and set a $129.00 price objective on shares of Guardant Health in a research report on Monday, February 23rd. Finally, Robert W. Baird began coverage on shares of Guardant Health in a research report on Tuesday, February 17th. They set an “outperform” rating and a $120.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $141.95.

Insider Transactions at Guardant Health

In other news, CEO Helmy Eltoukhy sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This 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 the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 60,034 shares in the company, valued at approximately $7,124,234.78. The trade was a 28.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 452,238 shares of company stock valued at $51,425,612. 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.