Driehaus Capital Management LLC Buys New Holdings in Guardant Health, Inc. $GH

Key Points

• Driehaus Capital Management LLC purchased 1,933,086 shares of Guardant Health, Inc. for approximately $82.35 million, making it the 25th largest position in their investment portfolio.
• Several analysts have provided positive updates on Guardant Health, with Piper Sandler raising their price target to $60.00 and UBS Group lifting their target to $70.00, indicating a strong interest in the stock.
• Guardant Health reported earnings of ($0.44) per share for the last quarter, surpassing estimates and showing a 31% year-over-year revenue growth with $232.09 million in revenue.

Driehaus Capital Management LLC bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,933,086 shares of the company's stock, valued at approximately $82,349,000. Guardant Health makes up 0.8% of Driehaus Capital Management LLC's holdings, making the stock its 25th biggest position. Driehaus Capital Management LLC owned 1.56% of Guardant Health at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GH. SVB Wealth LLC bought a new position in Guardant Health during the first quarter valued at about $54,000. NewEdge Advisors LLC lifted its holdings in shares of Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after purchasing an additional 230 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health during the fourth quarter valued at $61,000. GF Fund Management CO. LTD. purchased a new stake in shares of Guardant Health during the fourth quarter valued at $79,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Guardant Health in the 1st quarter worth about $97,000. Institutional investors own 92.60% of the company's stock.

Guardant Health Stock Performance

Shares of GH traded up $2.95 during trading hours on Monday, reaching $67.42. The stock had a trading volume of 2,864,324 shares, compared to its average volume of 2,800,602. Guardant Health, Inc. has a 12 month low of $20.14 and a 12 month high of $67.51. The stock has a market capitalization of $8.41 billion, a PE ratio of -20.13 and a beta of 1.45. The company's 50-day moving average is $51.69 and its two-hundred day moving average is $46.63.

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

Insider Buying and Selling at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the completion of the sale, the chief executive officer directly owned 1,971,830 shares in the company, valued at approximately $100,326,710.40. This trade represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ian T. Clark sold 6,672 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $48.38, for a total value of $322,791.36. Following the sale, the director owned 9,851 shares of the company's stock, valued at approximately $476,591.38. The trade was a 40.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,442 shares of company stock worth $11,848,325 over the last 90 days. Company insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank increased their price objective on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Evercore ISI raised Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Raymond James Financial raised their target price on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Mizuho lifted their price objective on Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $57.50.

Guardant Health 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.