Persistent Asset Partners Ltd Makes New $641,000 Investment in Guardant Health, Inc. $GH

Persistent Asset Partners Ltd purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,275 shares of the company’s stock, valued at approximately $641,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Elyxium Wealth LLC acquired a new position in shares of Guardant Health in the fourth quarter valued at approximately $35,000. Parallel Advisors LLC lifted its holdings in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Guardant Health during the 2nd quarter worth approximately $59,000. EFG International AG purchased a new position in Guardant Health in the 4th quarter valued at approximately $41,000. Finally, Ascentis Independent Advisors purchased a new position in Guardant Health in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GH. UBS Group set a $150.00 price objective on Guardant Health in a research report on Wednesday, June 24th. Guggenheim lifted their target price on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Canaccord Genuity Group boosted their target price on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Piper Sandler boosted their target price on Guardant Health from $135.00 to $193.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Sanford C. Bernstein upped their price target on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.78.

Insider Buying and Selling at Guardant Health

In related news, Director Medina Manuel Hidalgo sold 1,700 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total value of $279,208.00. Following the transaction, the director owned 4,556 shares of the company’s stock, valued at $748,277.44. This represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Amirali Talasaz sold 143,028 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the sale, the chief executive officer owned 1,881,336 shares in the company, valued at approximately $285,097,657.44. This represents a 7.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 784,234 shares of company stock worth $106,493,352. 5.60% of the stock is currently owned by company insiders.

Guardant Health Price Performance

NASDAQ GH opened at $157.21 on Monday. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58. The firm has a 50 day moving average of $150.40 and a two-hundred day moving average of $116.89. The stock has a market capitalization of $21.10 billion, a PE ratio of -45.05 and a beta of 1.60.

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.