Persistent Asset Partners Ltd Acquires Shares of 4,275 Guardant Health, Inc. $GH

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

A number of other large investors have also made changes to their positions in the stock. Elyxium Wealth LLC purchased a new position in Guardant Health during the fourth quarter worth approximately $35,000. Parallel Advisors LLC grew its holdings in Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 219 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in Guardant Health in the 1st quarter valued at $38,000. Hollencrest Capital Management acquired a new stake in shares of Guardant Health in the 1st quarter worth $41,000. Finally, EFG International AG acquired a new stake in shares of Guardant Health in the 4th quarter worth $41,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John G. Saia sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $106.51, for a total transaction of $2,130,200.00. Following the completion of the transaction, the insider directly owned 45,950 shares in the company, valued at $4,894,134.50. This trade represents a 30.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health 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 completion of the sale, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 784,234 shares of company stock worth $106,493,352 in the last three months. 5.60% of the stock is currently owned by corporate insiders.

Guardant Health Stock Performance

Guardant Health stock opened at $157.21 on Monday. The company’s 50 day simple moving average is $150.40 and its 200-day simple moving average is $116.89. Guardant Health, Inc. has a 1 year low of $53.40 and a 1 year high of $176.58. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of -45.05 and a beta of 1.60.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GH shares. Guggenheim boosted their price target on shares of Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Canaccord Genuity Group boosted their target price on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price target on shares of Guardant Health in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Friday, July 17th. Finally, Wolfe Research assumed coverage on Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and a consensus price target of $183.78.

About Guardant Health

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.