OP Asset Management Ltd Purchases New Holdings in Guardant Health, Inc. $GH

OP Asset Management Ltd purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,915 shares of the company’s stock, valued at approximately $1,193,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Guardant Health during the 4th quarter worth $27,000. Chesapeake Asset Management LLC bought a new stake in Guardant Health during the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Guardant Health during the fourth quarter worth about $31,000. Elyxium Wealth LLC bought a new position in Guardant Health in the 4th quarter valued at about $35,000. Finally, Parallel Advisors LLC increased its holdings in Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 219 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GH has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on shares of Guardant Health in a research report on Friday. They set an “outperform” rating and a $175.00 price target on the stock. Wolfe Research initiated coverage on Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. Piper Sandler set a $127.00 price target on Guardant Health in a research note on Thursday, May 21st. Finally, Evercore raised Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $144.82.

Insider Activity

In other news, Director Steve E. Krognes sold 9,294 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $132.51, for a total value of $1,231,547.94. Following the completion of the transaction, the director directly owned 10,222 shares in the company, valued at approximately $1,354,517.22. This represents a 47.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the sale, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 452,513 shares of company stock valued at $51,608,916. 5.60% of the stock is currently owned by insiders.

Guardant Health Price Performance

GH stock opened at $153.74 on Tuesday. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of -45.35 and a beta of 1.61. The company has a 50 day simple moving average of $113.99 and a 200 day simple moving average of $104.38. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $153.95.

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.