Alyeska Investment Group L.P. Sells 841,748 Shares of Guardant Health, Inc. $GH

Key Points

• Alyeska Investment Group reduced its Guardant Health stake by 56.5%, selling 841,748 shares and retaining 647,818 shares worth approximately $97.2 million. Institutional investors own 92.6% of the company.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $183.78; several firms recently raised their targets to between $185 and $215.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and an adjusted loss of $0.42 per share that beat expectations. However, insiders sold 548,318 shares worth about $82.5 million over the past three months.

Alyeska Investment Group L.P. lessened its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 56.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 647,818 shares of the company's stock after selling 841,748 shares during the period. Alyeska Investment Group L.P. owned approximately 0.48% of Guardant Health worth $97,192,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Guardant Health by 14.5% in the 2nd quarter. GAMMA Investing LLC now owns 965 shares of the company's stock worth $145,000 after acquiring an additional 122 shares during the last quarter. First Pacific Financial grew its holdings in Guardant Health by 33.1% during the 1st quarter. First Pacific Financial now owns 559 shares of the company's stock valued at $52,000 after purchasing an additional 139 shares during the last quarter. ABS Investment Management LLC purchased a new stake in Guardant Health in the 2nd quarter worth about $345,069,000. Xponance LLC raised its position in Guardant Health by 2.1% in the 4th quarter. Xponance LLC now owns 9,630 shares of the company's stock worth $984,000 after purchasing an additional 199 shares during the period. Finally, Danske Bank A S lifted its stake in Guardant Health by 20.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the company's stock worth $123,000 after purchasing an additional 200 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GH. Canaccord Genuity Group raised their price target on Guardant Health from $135.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Citigroup upped their price objective on Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Sanford C. Bernstein increased their target price on Guardant Health from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, July 2nd. Morgan Stanley lifted their target price on Guardant Health from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Piper Sandler boosted their target price on shares of Guardant Health from $135.00 to $193.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Guardant Health presently has a consensus rating of "Moderate Buy" and an average price target of $183.78.

Guardant Health Stock Performance

NASDAQ GH opened at $161.50 on Friday. Guardant Health, Inc. has a one year low of $53.40 and a one year high of $176.58. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of -46.27 and a beta of 1.60. The company's 50-day simple moving average is $157.49 and its two-hundred day simple moving average is $120.75.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. Guardant Health's revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.44) EPS. Equities analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, insider Chris Freeman sold 63,605 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the completion of the transaction, the insider directly owned 65,374 shares of the company's stock, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terilyn J. Monroe sold 46,300 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total value of $7,645,056.00. Following the sale, the insider owned 22,979 shares of the company's stock, valued at $3,794,292.48. This trade represents a 66.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 548,318 shares of company stock worth $82,501,873. 5.60% of the stock is currently owned by company insiders.

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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