Artia Global Partners LP Takes Position in Guardant Health, Inc. $GH

Key Points

• Artia Global Partners LP initiated a 38,100-share position in Guardant Health valued at approximately $5.7 million, while institutional investors and hedge funds collectively own 92.6% of the stock.
• Analysts remain broadly bullish: 23 rate Guardant Health a Buy and one rates it a Strong Buy, producing a consensus “Moderate Buy” rating and an average price target of $183.78.
• Guardant Health reported stronger-than-expected quarterly results, with revenue rising 44.3% year over year to $334.98 million and an EPS loss of $0.42 versus the expected $0.76 loss.

Artia Global Partners LP bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,100 shares of the company's stock, valued at approximately $5,716,000. Guardant Health accounts for approximately 1.1% of Artia Global Partners LP's investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new position in shares of Guardant Health in the third quarter valued at about $114,421,000. Price T Rowe Associates Inc. MD raised its stake in Guardant Health by 33.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company's stock worth $575,670,000 after purchasing an additional 1,414,441 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Guardant Health in the 2nd quarter worth about $208,592,000. William Blair Investment Management LLC bought a new stake in Guardant Health in the 2nd quarter valued at about $196,737,000. Finally, Norges Bank bought a new stake in Guardant Health in the 4th quarter valued at about $128,499,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on GH. Citigroup raised their target price on shares of Guardant Health from $150.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on Guardant Health from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Canaccord Genuity Group raised their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Sanford C. Bernstein lifted their price objective on Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Thursday, July 2nd. Finally, Evercore reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Guardant Health in a report on Monday, July 6th. 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $183.78.

Insider Activity

In related news, Director Medina Manuel Hidalgo sold 1,700 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $164.24, for a total transaction of $279,208.00. Following the sale, the director directly owned 4,556 shares in the company, valued at approximately $748,277.44. This represents a 27.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amirali Talasaz sold 37,500 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the sale, the chief executive officer directly owned 37,500 shares in the company, valued at $6,343,500. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 548,318 shares of company stock worth $82,501,873. 5.60% of the stock is owned by insiders.

Guardant Health Price Performance

Guardant Health stock opened at $170.92 on Thursday. The firm has a market cap of $22.94 billion, a P/E ratio of -48.97 and a beta of 1.60. Guardant Health, Inc. has a one year low of $53.40 and a one year high of $176.58. The stock's 50 day moving average is $156.17 and its 200 day moving average is $120.00.

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

Guardant Health 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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