Readystate Asset Management LP Purchases 3,452 Shares of Guardant Health, Inc. $GH

Readystate Asset Management LP lifted its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 7.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,852 shares of the company’s stock after buying an additional 3,452 shares during the quarter. Readystate Asset Management LP’s holdings in Guardant Health were worth $7,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Alyeska Investment Group L.P. bought a new stake in shares of Guardant Health during the 3rd quarter valued at $114,421,000. Price T Rowe Associates Inc. MD increased its position in shares of Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock worth $575,670,000 after purchasing an additional 1,414,441 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Guardant Health in the second quarter worth $208,592,000. William Blair Investment Management LLC acquired a new position in Guardant Health in the second quarter valued at about $196,737,000. Finally, Norges Bank acquired a new position in Guardant Health in the fourth quarter valued at about $128,499,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $161.41 on Monday. The company has a market cap of $21.66 billion, a price-to-earnings ratio of -46.25 and a beta of 1.57. Guardant Health, Inc. has a 12 month low of $53.40 and a 12 month high of $176.58. The stock has a 50-day moving average price of $159.90 and a two-hundred day moving average price of $122.86.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GH. Wolfe Research assumed coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price objective on the stock. Piper Sandler boosted their target price on shares of Guardant Health from $135.00 to $193.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Mizuho upped their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Guggenheim increased their price target on shares of Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Evercore reissued an “outperform” rating and issued a $200.00 price objective on shares of Guardant Health in a research note on Monday, July 6th. One investment 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’s stock. According to data from MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and a consensus price target of $183.78.

Insiders Place Their Bets

In other Guardant Health news, Director Musa Tariq sold 1,951 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $1,449,055.68. This trade represents a 15.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 63,605 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the sale, the insider directly owned 65,374 shares in the company, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 427,024 shares of company stock worth $67,113,285 over the last 90 days. Insiders own 5.60% of the company’s stock.

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.