Orbimed Advisors LLC Makes New $40.20 Million Investment in Guardant Health, Inc. $GH

Orbimed Advisors LLC purchased a new stake in Guardant Health, Inc. (NASDAQ:GH) during the 1st quarter, Holdings Channel.com reports. The fund purchased 435,200 shares of the company’s stock, valued at approximately $40,199,000.

A number of other hedge funds also recently made changes to their positions in GH. V Square Quantitative Management LLC bought a new position in shares of Guardant Health during the 4th quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Guardant Health in the fourth quarter valued at about $31,000. Elyxium Wealth LLC bought a new stake in Guardant Health in the fourth quarter valued at about $35,000. Parallel Advisors LLC raised its position in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 219 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in Guardant Health in the first quarter worth about $38,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Price Performance

Shares of GH stock opened at $147.33 on Monday. Guardant Health, Inc. has a 12-month low of $40.35 and a 12-month high of $174.08. The company has a market capitalization of $19.54 billion, a P/E ratio of -43.46 and a beta of 1.59. The firm has a 50-day moving average price of $139.41 and a 200 day moving average price of $112.02.

Insider Activity

In other 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 transaction of $255,893.16. Following the completion of the sale, the director owned 11,048 shares of the company’s stock, valued at approximately $1,449,055.68. This trade represents a 15.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $128.62, for a total transaction of $257,240.00. Following the sale, the chief financial officer directly owned 47,509 shares of the company’s stock, valued at approximately $6,110,607.58. The trade was a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 708,565 shares of company stock valued at $90,556,597. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on GH shares. BTIG Research raised their price target on shares of Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. Morgan Stanley increased their target price on Guardant Health from $130.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Sanford C. Bernstein raised their target price on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Finally, Barclays boosted their price target on Guardant Health from $120.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.04.

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.