Next Century Growth Investors LLC Takes Position in Guardant Health, Inc. $GH

Next Century Growth Investors LLC acquired a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,484 shares of the company’s stock, valued at approximately $1,888,000.

A number of other hedge funds have also made changes to their positions in the stock. First Turn Management LLC acquired a new position in shares of Guardant Health during the 4th quarter valued at about $27,750,000. Entropy Technologies LP increased its holdings in shares of Guardant Health by 140.3% during the 4th quarter. Entropy Technologies LP now owns 17,093 shares of the company’s stock valued at $1,746,000 after acquiring an additional 9,979 shares during the last quarter. Arax Advisory Partners increased its holdings in shares of Guardant Health by 61.5% during the 4th quarter. Arax Advisory Partners now owns 733 shares of the company’s stock valued at $75,000 after acquiring an additional 279 shares during the last quarter. Bullseye Asset Management LLC acquired a new position in shares of Guardant Health during the 4th quarter valued at about $102,000. Finally, Aigen Investment Management LP acquired a new position in shares of Guardant Health during the 4th quarter valued at about $215,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Activity at Guardant Health

In other news, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meghan V. Joyce sold 10,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total value of $1,269,800.00. Following the sale, the director directly owned 11,183 shares in the company, valued at $1,420,017.34. The trade was a 47.21% 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. Insiders have sold 449,238 shares of company stock worth $51,164,492 in the last three months. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GH. JPMorgan Chase & Co. increased their price objective on Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Guggenheim downgraded Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday, May 28th. Wolfe Research started 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. Raymond James Financial restated an “outperform” rating and set a $129.00 target price on shares of Guardant Health in a research note on Monday, February 23rd. Finally, Evercore upgraded Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.95.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $131.62 on Monday. The business has a 50 day moving average price of $103.51 and a 200 day moving average price of $102.08. Guardant Health, Inc. has a twelve month low of $40.35 and a twelve month high of $134.28. The company has a market cap of $17.45 billion, a price-to-earnings ratio of -38.83 and a beta of 1.61.

Guardant Health Company 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.