Krilogy Financial LLC Makes New $2.78 Million Investment in Guardant Health, Inc. $GH

Krilogy Financial LLC acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 32,436 shares of the company’s stock, valued at approximately $2,780,000.

Other large investors also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new stake in shares of Guardant Health during the 3rd quarter worth about $114,421,000. Price T Rowe Associates Inc. MD grew its stake in Guardant Health by 33.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after buying an additional 1,414,441 shares during the last quarter. Norges Bank bought a new position in Guardant Health in the 4th quarter valued at about $128,499,000. Summit Partners Public Asset Management LLC raised its holdings in Guardant Health by 674.5% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock valued at $87,019,000 after acquiring an additional 741,958 shares during the period. Finally, Franklin Resources Inc. lifted its position in Guardant Health by 26.1% during the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock worth $182,836,000 after acquiring an additional 606,368 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GH. Guggenheim cut Guardant Health from a “buy” rating to a “buy” rating in a report on Thursday, May 28th. UBS Group set a $150.00 price target on Guardant Health in a report on Wednesday. BTIG Research set a $160.00 price target on Guardant Health and gave the company a “buy” rating in a research note on Wednesday, May 27th. Wolfe Research initiated coverage on Guardant Health in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 price objective on the stock. Finally, Piper Sandler set a $127.00 price objective on Guardant Health in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and a consensus target price of $142.19.

Insiders Place Their Bets

In related news, Director Myrtle S. Potter sold 1,556 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total transaction of $204,084.96. Following the sale, the director owned 20,971 shares of the company’s stock, valued at $2,750,556.36. This represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer owned 47,509 shares in the company, valued at approximately $6,110,607.58. This trade represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 452,513 shares of company stock valued at $51,608,916 in the last quarter. Company insiders own 5.60% of the company’s stock.

Guardant Health Trading Up 4.7%

Shares of GH opened at $136.96 on Thursday. Guardant Health, Inc. has a 12 month low of $40.35 and a 12 month high of $141.07. The firm’s 50 day moving average is $110.21 and its 200-day moving average is $103.42. The stock has a market capitalization of $18.16 billion, a PE ratio of -40.40 and a beta of 1.61.

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.