Y Intercept Hong Kong Ltd Makes New $2.38 Million Investment in Guardant Health, Inc. $GH

Y Intercept Hong Kong Ltd acquired a new position in Guardant Health, Inc. (NASDAQ:GH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 45,769 shares of the company’s stock, valued at approximately $2,382,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. grew its stake in shares of Guardant Health by 40.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 38,622 shares of the company’s stock worth $2,010,000 after buying an additional 11,125 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Guardant Health by 11.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 50,835 shares of the company’s stock worth $2,645,000 after buying an additional 5,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Guardant Health by 49.6% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,030,638 shares of the company’s stock worth $105,674,000 after buying an additional 673,411 shares in the last quarter. Ethic Inc. purchased a new position in shares of Guardant Health in the 2nd quarter worth $217,000. Finally, ARK Investment Management LLC grew its stake in shares of Guardant Health by 100.4% in the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock worth $146,935,000 after buying an additional 1,414,381 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the completion of the sale, the chief executive officer directly owned 2,123,499 shares of the company’s stock, valued at $126,242,015.55. The trade was a 12.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $54.16, for a total transaction of $117,256.40. Following the transaction, the director owned 851 shares in the company, valued at approximately $46,090.16. The trade was a 71.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 302,691 shares of company stock valued at $17,984,628. 6.10% of the stock is owned by corporate insiders.

Guardant Health Price Performance

Guardant Health stock opened at $92.41 on Friday. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of -28.79 and a beta of 1.53. Guardant Health, Inc. has a 1 year low of $21.85 and a 1 year high of $95.88. The firm has a 50-day moving average of $63.60 and a two-hundred day moving average of $52.81.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.26). The business had revenue of $265.20 million for the quarter, compared to the consensus estimate of $235.72 million. Guardant Health’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the business posted ($0.88) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. Research analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

GH has been the subject of several analyst reports. Cowen restated a “buy” rating on shares of Guardant Health in a report on Thursday. Stifel Nicolaus set a $73.00 target price on shares of Guardant Health in a report on Thursday, September 25th. Leerink Partners raised their target price on shares of Guardant Health from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. UBS Group raised their target price on shares of Guardant Health from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group set a $100.00 target price on shares of Guardant Health in a report on Thursday. Twenty-three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.14.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.