Cubist Systematic Strategies LLC Sells 480,089 Shares of Guardant Health, Inc. $GH

Key Points

• Cubist Systematic Strategies LLC sold 480,089 shares of Guardant Health, reducing its holdings by 88.9%, leaving them with just 59,747 shares valued at approximately $2.5 million.
• Multiple institutional investors have recently acquired shares in Guardant Health, and institutional ownership now stands at 92.60% of the company's stock.
• Analysts have a consensus rating of "Buy" on Guardant Health shares, with price targets climbing to as high as $70.00 from several firms.

Cubist Systematic Strategies LLC lessened its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 88.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,747 shares of the company's stock after selling 480,089 shares during the period. Cubist Systematic Strategies LLC's holdings in Guardant Health were worth $2,545,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in shares of Guardant Health in the 1st quarter worth approximately $232,000. Teacher Retirement System of Texas bought a new stake in Guardant Health during the 1st quarter worth approximately $866,000. Fifth Third Bancorp bought a new stake in Guardant Health during the 1st quarter worth approximately $279,000. Oppenheimer & Co. Inc. bought a new stake in Guardant Health during the 1st quarter worth approximately $442,000. Finally, 111 Capital bought a new stake in Guardant Health during the 4th quarter worth approximately $254,000. Institutional investors own 92.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GH shares. Scotiabank raised their target price on shares of Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Raymond James Financial increased their price objective on shares of Guardant Health from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Mizuho increased 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. Evercore ISI raised shares of Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Finally, BTIG Research increased their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $58.24.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 3,213 shares of Guardant Health stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the completion of the transaction, the director directly owned 7,190 shares of the company's stock, valued at $355,689.30. The trade was a 30.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meghan V. Joyce sold 3,337 shares of Guardant Health stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the transaction, the director directly owned 11,150 shares of the company's stock, valued at $526,503. The trade was a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 194,111 shares of company stock valued at $9,780,576 in the last 90 days. Company insiders own 6.10% of the company's stock.

Guardant Health Stock Performance

GH stock opened at $60.13 on Friday. The firm has a fifty day moving average price of $53.12 and a 200 day moving average price of $47.20. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $68.00. The firm has a market cap of $7.50 billion, a PE ratio of -17.95 and a beta of 1.46.

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

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.

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