48,400 Shares in Guardant Health, Inc. $GH Purchased by Readystate Asset Management LP

Key Points

• Readystate Asset Management purchased 48,400 Guardant Health shares worth approximately $4.47 million during the first quarter. Institutional investors collectively own 92.6% of the company.
• Guardant Health shares opened at $143.62, down 1.3%, with a market capitalization of $19.04 billion and a 52-week range of $40.35 to $174.08.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $160.04 price target, although insiders sold 708,565 shares worth $90.6 million over the past 90 days.

Readystate Asset Management LP purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,400 shares of the company's stock, valued at approximately $4,471,000.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Guardant Health during the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Guardant Health in the fourth quarter worth $31,000. Elyxium Wealth LLC bought a new position in Guardant Health in the fourth quarter worth $35,000. Parallel Advisors LLC boosted its stake in Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company's stock worth $36,000 after buying an additional 219 shares in the last quarter. Finally, EFG International AG acquired a new stake in Guardant Health during the fourth quarter worth $41,000. Institutional investors own 92.60% of the company's stock.

Guardant Health Stock Down 1.3%

NASDAQ:GH opened at $143.62 on Wednesday. The firm has a market cap of $19.04 billion, a PE ratio of -42.37 and a beta of 1.59. Guardant Health, Inc. has a 12 month low of $40.35 and a 12 month high of $174.08. The company's 50-day moving average price is $141.31 and its two-hundred day moving average price is $112.49.

Insider Buying and Selling

In other news, Director Meghan V. Joyce sold 10,000 shares of the business's 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 transaction, the director directly owned 11,183 shares of the company's stock, valued at $1,420,017.34. The trade was a 47.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amirali Talasaz sold 210,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total value of $23,076,900.00. Following the sale, the chief executive officer owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. This trade represents a 10.02% decrease in their ownership of the stock. 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 a total of 708,565 shares of company stock valued at $90,556,597 in the last ninety days. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GH shares. JPMorgan Chase & Co. increased their price objective on shares of Guardant Health from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Piper Sandler set a $127.00 price target on shares of Guardant Health in a research report on Thursday, May 21st. 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 note on Wednesday, July 8th. Evercore reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Guardant Health in a report on Monday, July 6th. Finally, Barclays upped their price objective on Guardant Health from $120.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.04.

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.

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