Deep Track Capital LP Boosts Position in Guardant Health, Inc. (NASDAQ:GH)

Deep Track Capital LP grew its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,419,566 shares of the company's stock after purchasing an additional 419,006 shares during the period. Guardant Health makes up approximately 7.3% of Deep Track Capital LP's holdings, making the stock its 2nd largest position. Deep Track Capital LP owned approximately 5.20% of Guardant Health worth $196,118,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GH. R Squared Ltd bought a new stake in Guardant Health during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Guardant Health during the fourth quarter valued at approximately $43,000. Kimelman & Baird LLC purchased a new position in Guardant Health in the 4th quarter worth approximately $58,000. NewEdge Advisors LLC lifted its position in Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after acquiring an additional 230 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Guardant Health in the 4th quarter valued at approximately $80,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GH has been the subject of several recent analyst reports. TD Securities boosted their price target on Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. UBS Group raised their price target on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Raymond James restated an "outperform" rating and set a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Finally, Guggenheim reaffirmed a "buy" rating and issued a $56.00 target price on shares of Guardant Health in a research report on Monday, February 24th. Twenty-one investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $52.32.

Guardant Health Price Performance

Shares of NASDAQ:GH traded up $0.04 during trading on Friday, hitting $41.72. 2,781,560 shares of the company's stock were exchanged, compared to its average volume of 2,229,071. The business's 50-day simple moving average is $43.72 and its 200 day simple moving average is $38.84. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -11.72 and a beta of 1.49. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $52.92.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The firm had revenue of $203.47 million for the quarter, compared to analysts' expectations of $189.91 million. During the same quarter last year, the business posted ($0.46) earnings per share. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, CEO Amirali Talasaz sold 106,784 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the sale, the chief executive officer now directly owns 2,202,672 shares of the company's stock, valued at $107,952,954.72. This represents a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 107,132 shares of company stock valued at $5,249,355 in the last 90 days. Insiders own 5.50% of the company's stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.