Mitsubishi UFJ Trust & Banking Corp Sells 5,134 Shares of Guardant Health, Inc. $GH

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 178,309 shares of the company’s stock after selling 5,134 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Guardant Health were worth $11,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ARK Investment Management LLC lifted its position in shares of Guardant Health by 100.4% in the second 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. Norges Bank bought a new stake in Guardant Health in the 2nd quarter worth approximately $64,136,000. Franklin Resources Inc. increased its stake in Guardant Health by 78.2% in the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock worth $120,730,000 after acquiring an additional 1,018,144 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Guardant Health by 27.3% during the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after acquiring an additional 763,834 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Guardant Health during the 2nd quarter valued at approximately $37,233,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Transactions at Guardant Health

In other Guardant Health news, CTO Darya Chudova sold 5,451 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $104.04, for a total value of $567,122.04. Following the sale, the chief technology officer owned 7,012 shares in the company, valued at $729,528.48. This trade represents a 43.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Helmy Eltoukhy sold 90,565 shares of Guardant Health stock in a transaction on Monday, December 15th. The stock was sold at an average price of $103.82, for a total value of $9,402,458.30. Following the sale, the chief executive officer owned 2,047,143 shares of the company’s stock, valued at approximately $212,534,386.26. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 445,123 shares of company stock valued at $46,600,702. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GH shares. Guggenheim boosted their price target on shares of Guardant Health from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Guardant Health from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Evercore ISI set a $105.00 price target on shares of Guardant Health and gave the company an “in-line” rating in a report on Monday, January 5th. Canaccord Genuity Group lifted their price target on Guardant Health from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, UBS Group boosted their price objective on Guardant Health from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.76.

Guardant Health Trading Down 4.2%

Shares of NASDAQ:GH opened at $109.73 on Thursday. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of -34.18 and a beta of 1.58. Guardant Health, Inc. has a 12 month low of $34.88 and a 12 month high of $120.74. The firm’s 50-day moving average is $106.19 and its 200 day moving average is $78.94.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.09. During the same quarter in the prior year, the company posted ($0.88) earnings per share. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, equities analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

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.