Emerald Mutual Fund Advisers Trust Acquires New Position in Guardant Health, Inc. (NASDAQ:GH)

Emerald Mutual Fund Advisers Trust acquired a new position in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 327,283 shares of the company's stock, valued at approximately $13,942,000. Emerald Mutual Fund Advisers Trust owned approximately 0.27% of Guardant Health at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. boosted its position in shares of Guardant Health by 6.8% during the first quarter. Xponance Inc. now owns 9,116 shares of the company's stock worth $388,000 after acquiring an additional 582 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Guardant Health by 6.4% during the first quarter. Cerity Partners LLC now owns 145,475 shares of the company's stock worth $6,197,000 after acquiring an additional 8,725 shares during the last quarter. Values First Advisors Inc. boosted its position in shares of Guardant Health by 5.5% during the first quarter. Values First Advisors Inc. now owns 29,597 shares of the company's stock worth $1,263,000 after acquiring an additional 1,538 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Guardant Health by 136.6% during the first quarter. Envestnet Asset Management Inc. now owns 27,497 shares of the company's stock worth $1,171,000 after acquiring an additional 15,877 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Guardant Health during the first quarter worth $2,227,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 100,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total transaction of $5,088,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,971,830 shares in the company, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Musa Tariq sold 3,213 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total transaction of $158,947.11. Following the transaction, the director owned 7,190 shares of the company's stock, valued at $355,689.30. This represents a 30.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,274 shares of company stock worth $17,080,589. Corporate insiders own 6.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Scotiabank restated an "outperform" rating on shares of Guardant Health in a research report on Monday, May 5th. TD Securities lifted their price objective on shares of Guardant Health from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Mizuho lifted their target price on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. UBS Group raised their target price on shares of Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Piper Sandler restated 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. Twenty-one analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $53.76.

Guardant Health Stock Performance

GH stock traded down $1.04 during trading on Friday, reaching $50.25. The company had a trading volume of 1,195,207 shares, compared to its average volume of 2,171,123. The firm has a 50-day simple moving average of $45.70 and a 200-day simple moving average of $43.87. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -14.82 and a beta of 1.44. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $53.42.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($0.57) by $0.08. The company had revenue of $203.47 million during the quarter, compared to analyst estimates of $189.91 million. The firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.46) earnings per share. Sell-side analysts expect that Guardant Health, Inc. will post -2.9 earnings per share 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.