M&T Bank Corp Takes Position in Guardant Health, Inc. $GH

M&T Bank Corp bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) during the 4th quarter, Holdings Channel.com reports. The firm bought 5,118 shares of the company’s stock, valued at approximately $523,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GH. V Square Quantitative Management LLC acquired a new position in shares of Guardant Health during the 4th quarter valued at $27,000. Chesapeake Asset Management LLC acquired a new position in shares of Guardant Health during the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Guardant Health during the 4th quarter valued at $31,000. First Pacific Financial acquired a new position in shares of Guardant Health during the 4th quarter valued at $43,000. Finally, Optiver Holding B.V. lifted its holdings in shares of Guardant Health by 153.5% during the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock valued at $48,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GH. Raymond James Financial reissued an “outperform” rating and set a $129.00 price target on shares of Guardant Health in a research report on Monday, February 23rd. Leerink Partners boosted their price target on Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research report on Tuesday, April 21st. Piper Sandler reissued an “overweight” rating and set a $135.00 price target on shares of Guardant Health in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Nineteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.42.

Guardant Health Stock Up 3.3%

Shares of GH opened at $99.94 on Wednesday. The business’s 50 day moving average is $89.03 and its two-hundred day moving average is $97.53. Guardant Health, Inc. has a 52-week low of $36.36 and a 52-week high of $120.74. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of -29.48 and a beta of 1.48.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to the consensus estimate of $269.74 million. During the same quarter last year, the firm posted ($0.62) earnings per share. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities analysts expect that Guardant Health, Inc. will post -2.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guardant Health news, Director Medina Manuel Hidalgo sold 1,300 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $91.54, for a total value of $119,002.00. Following the transaction, the director directly owned 1,193 shares of the company’s stock, valued at $109,207.22. This represents a 52.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terilyn J. Monroe sold 3,832 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $92.68, for a total transaction of $355,149.76. Following the completion of the sale, the insider owned 20,990 shares in the company, valued at approximately $1,945,353.20. This trade represents a 15.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 8,596 shares of company stock valued at $775,767. Company insiders own 5.60% of the company’s stock.

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.