Cinctive Capital Management LP Makes New Investment in Guardant Health, Inc. $GH

Key Points

• Cinctive Capital Management LP has acquired a new stake in Guardant Health, Inc., purchasing 93,686 shares valued at approximately $3.99 million, representing 0.08% ownership of the company.
• Guardant Health reported quarterly earnings of ($0.44) per share, surpassing analysts' expectations and showing a 31% increase in revenue compared to the previous year.
• Several analysts have raised their price targets for Guardant Health, with Mizuho setting a new target of $65, indicating a solid outlook for the stock's performance.

Cinctive Capital Management LP purchased a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 93,686 shares of the company's stock, valued at approximately $3,991,000. Cinctive Capital Management LP owned 0.08% of Guardant Health at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Deep Track Capital LP increased its stake in Guardant Health by 7.0% in the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock valued at $196,118,000 after purchasing an additional 419,006 shares in the last quarter. Invesco Ltd. lifted its position in Guardant Health by 100.9% during the first quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock valued at $119,053,000 after purchasing an additional 1,403,670 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Guardant Health by 96.7% during the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock valued at $70,742,000 after purchasing an additional 1,138,300 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Guardant Health during the first quarter valued at $82,349,000. Finally, Two Sigma Investments LP increased its stake in Guardant Health by 38.5% in the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock worth $57,761,000 after acquiring an additional 525,368 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Price Performance

Shares of GH stock traded down $1.16 on Tuesday, hitting $59.01. The stock had a trading volume of 1,429,973 shares, compared to its average volume of 2,386,734. The firm has a market capitalization of $7.36 billion, a P/E ratio of -17.62 and a beta of 1.45. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $68.00. The company's 50 day moving average price is $53.28 and its 200-day moving average price is $47.30.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.08. The firm had revenue of $232.09 million during the quarter, compared to analysts' expectations of $211.19 million. The business's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insider Activity at Guardant Health

In related news, Director Myrtle S. Potter sold 2,626 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.70, for a total transaction of $130,512.20. Following the transaction, the director owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total value of $322,791.36. Following the completion of the transaction, the director directly owned 9,851 shares in the company, valued at $476,591.38. This represents a 40.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 116,258 shares of company stock valued at $5,880,919. 6.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GH has been the subject of several research analyst reports. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. BTIG Research increased their price target on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Scotiabank upped their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Raymond James Financial lifted their price objective on Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Mizuho lifted their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $58.24.

Guardant Health Company Profile

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.