Handelsbanken Fonder AB Grows Stake in Guardant Health, Inc. $GH

Handelsbanken Fonder AB grew its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 159.9% during the second quarter, HoldingsChannel reports. The firm owned 301,041 shares of the company’s stock after buying an additional 185,200 shares during the period. Handelsbanken Fonder AB’s holdings in Guardant Health were worth $45,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GH. Alyeska Investment Group L.P. acquired a new position in Guardant Health during the 3rd quarter worth approximately $114,421,000. Price T Rowe Associates Inc. MD grew its stake in shares of Guardant Health by 33.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after acquiring an additional 1,414,441 shares in the last quarter. Norges Bank purchased a new stake in shares of Guardant Health during the fourth quarter worth about $128,499,000. Summit Partners Public Asset Management LLC lifted its stake in shares of Guardant Health by 674.5% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after acquiring an additional 741,958 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Guardant Health by 89.6% in the first quarter. The Manufacturers Life Insurance Company now owns 1,205,701 shares of the company’s stock worth $111,371,000 after acquiring an additional 569,766 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GH. Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. Citigroup raised their price target on shares of Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Piper Sandler lifted their price target on shares of Guardant Health from $135.00 to $193.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Barclays upped their price target on shares of Guardant Health from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Wolfe Research initiated coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and a consensus price target of $183.78.

Guardant Health Trading Down 1.3%

Shares of NASDAQ GH opened at $165.09 on Wednesday. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58. The company has a market cap of $22.15 billion, a PE ratio of -47.30 and a beta of 1.60. The stock has a 50 day simple moving average of $148.48 and a 200-day simple moving average of $115.94.

Insider Activity

In other Guardant Health news, Director Ian T. Clark sold 14,180 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the completion of the transaction, the director owned 2,975 shares in the company, valued at approximately $472,787. The trade was a 82.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amirali Talasaz sold 143,028 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the transaction, the chief executive officer directly owned 1,881,336 shares of the company’s stock, valued at approximately $285,097,657.44. The trade was a 7.07% 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 738,050 shares of company stock worth $98,859,427 over the last ninety days. 5.60% of the stock is currently owned by company insiders.

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.