1,258,072 Shares in Guardant Health, Inc. $GH Acquired by Norges Bank

Norges Bank acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,258,072 shares of the company’s stock, valued at approximately $128,499,000.

Several other institutional investors have also modified their holdings of GH. AQR Capital Management LLC lifted its stake in Guardant Health by 56.5% during the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after purchasing an additional 25,831 shares during the last quarter. Empowered Funds LLC purchased a new position in Guardant Health in the first quarter valued at approximately $274,000. Sei Investments Co. boosted its stake in Guardant Health by 15.8% in the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Guardant Health by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after purchasing an additional 54,284 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Guardant Health by 56.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after purchasing an additional 40,209 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider John G. Saia sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $125.08, for a total transaction of $1,250,800.00. Following the completion of the transaction, the insider directly owned 35,950 shares of the company’s stock, valued at $4,496,626. This trade represents a 21.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian T. Clark sold 6,876 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $106.90, for a total value of $735,044.40. Following the sale, the director directly owned 2,975 shares in the company, valued at approximately $318,027.50. The trade was a 69.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 340,944 shares of company stock valued at $37,306,824. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

GH has been the topic of a number of research reports. Piper Sandler set a $127.00 target price on shares of Guardant Health in a research report on Thursday, May 21st. Robert W. Baird began coverage on Guardant Health in a research report on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 price target on the stock. Evercore raised Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price objective for the company in a research report on Tuesday. The Goldman Sachs Group set a $165.00 target price on Guardant Health and gave the company a “buy” rating in a research note on Friday. Finally, TD Cowen reaffirmed a “buy” rating on shares of Guardant Health in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.80.

Guardant Health Stock Performance

Guardant Health stock opened at $133.06 on Friday. Guardant Health, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $134.28. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of -39.25 and a beta of 1.61. The stock’s fifty day moving average is $98.61 and its two-hundred day moving average is $100.91.

Guardant Health 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.