Van ECK Associates Corp Sells 3,260 Shares of Guardant Health, Inc. $GH

Van ECK Associates Corp lessened its holdings in Guardant Health, Inc. (NASDAQ:GH) by 47.8% during the second quarter, HoldingsChannel reports. The firm owned 3,559 shares of the company’s stock after selling 3,260 shares during the quarter. Van ECK Associates Corp’s holdings in Guardant Health were worth $534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GH. ABS Investment Management LLC acquired a new position in shares of Guardant Health during the 2nd quarter worth $345,069,000. TrinityBridge Ltd acquired a new stake in Guardant Health in the second quarter valued at about $45,000. Elyxium Wealth LLC bought a new position in Guardant Health in the fourth quarter valued at about $35,000. Parallel Advisors LLC grew its position 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 acquiring an additional 219 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Guardant Health during the second quarter worth about $59,000. Institutional investors own 92.60% of the company’s stock.

Insider Activity at Guardant Health

In related news, Director Musa Tariq sold 1,951 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total value of $255,893.16. Following the sale, the director owned 11,048 shares of the company’s stock, valued at $1,449,055.68. The trade was a 15.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Terilyn Monroe sold 46,300 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total value of $7,645,056.00. Following the completion of the sale, the insider owned 22,979 shares of the company’s stock, valued at $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 427,024 shares of company stock valued at $67,113,285 in the last quarter. Insiders own 5.60% of the company’s stock.

Guardant Health Price Performance

Guardant Health stock opened at $161.41 on Friday. The business has a 50 day moving average of $159.90 and a 200-day moving average of $122.74. The company has a market capitalization of $21.66 billion, a P/E ratio of -46.25 and a beta of 1.57. Guardant Health, Inc. has a 1 year low of $53.40 and a 1 year high of $176.58.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on GH. Evercore reissued an “outperform” rating and issued a $200.00 target price on shares of Guardant Health in a report on Monday, July 6th. Sanford C. Bernstein upped their price objective on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Bank of America increased their price objective on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. Finally, Stephens boosted their target price on shares of Guardant Health from $170.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and an average price target of $183.78.

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.