Readystate Asset Management LP Has $7.78 Million Stock Holdings in Guardant Health, Inc. $GH

Readystate Asset Management LP boosted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,852 shares of the company’s stock after acquiring an additional 3,452 shares during the quarter. Readystate Asset Management LP’s holdings in Guardant Health were worth $7,779,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in shares of Guardant Health during the fourth quarter worth $35,000. Parallel Advisors LLC increased its holdings in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 219 shares during the period. Ascentis Independent Advisors bought a new position in Guardant Health during the 1st quarter worth $38,000. Hollencrest Capital Management bought a new position in Guardant Health during the 1st quarter worth $41,000. Finally, EFG International AG acquired a new position in Guardant Health during the 4th quarter worth about $41,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 143,028 shares of Guardant Health 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 directly owned 1,881,336 shares of the company’s stock, valued at approximately $285,097,657.44. The trade was a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 63,605 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the transaction, the insider owned 65,374 shares in the company, valued at $11,086,122.92. This represents a 49.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 427,024 shares of company stock worth $67,113,285 over the last ninety days. 5.60% of the stock is owned by corporate insiders.

Guardant Health Price Performance

NASDAQ GH opened at $161.41 on Monday. The stock has a market capitalization of $21.66 billion, a P/E ratio of -46.25 and a beta of 1.57. The business has a 50 day simple moving average of $159.90 and a 200 day simple moving average of $122.86. Guardant Health, Inc. has a one year low of $53.40 and a one year high of $176.58.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. Guardant Health’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.44) earnings per share. Equities analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and issued a $195.00 price target on shares of Guardant Health in a research note on Wednesday, September 2nd. Bank of America lifted their price objective on Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Piper Sandler upped their target price on Guardant Health from $135.00 to $193.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Stifel Nicolaus raised their price target on shares of Guardant Health from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, TD Cowen restated a “buy” rating on shares of Guardant Health in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Guardant Health has a consensus rating of “Moderate Buy” and a consensus price target of $183.78.

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.