Rhenman & Partners Asset Management AB Increases Stock Position in Guardant Health, Inc. $GH

Rhenman & Partners Asset Management AB lifted its stake in Guardant Health, Inc. (NASDAQ:GH) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,000 shares of the company’s stock after purchasing an additional 30,000 shares during the period. Rhenman & Partners Asset Management AB owned 0.06% of Guardant Health worth $8,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GH. V Square Quantitative Management LLC bought a new position in shares of Guardant Health in the 4th quarter worth about $27,000. Chesapeake Asset Management LLC bought a new position in shares of Guardant Health in the 4th quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Guardant Health in the 4th quarter worth about $31,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health in the 4th quarter worth about $35,000. Finally, Parallel Advisors LLC increased its stake in shares of Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 219 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the transaction, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Freeman sold 24,406 shares of Guardant Health stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the transaction, the insider directly owned 60,034 shares in the company, valued at $7,124,234.78. This represents a 28.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 452,238 shares of company stock valued at $51,425,612 in the last 90 days. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

GH has been the subject of several research reports. Stifel Nicolaus increased their price target on shares of Guardant Health from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Robert W. Baird initiated coverage on shares of Guardant Health in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 price target for the company. Wells Fargo & Company increased their price target on shares of Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Wolfe Research initiated coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 price target for the company. Finally, Mizuho increased their price target on shares of Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $141.95.

Guardant Health Trading Up 0.6%

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

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.