Entropy Technologies LP Cuts Stake in Guardant Health, Inc. $GH

Key Points

• Entropy Technologies LP cut its Guardant Health stake by 64.1% in the first quarter, selling 10,957 shares and retaining 6,136 shares valued at approximately $567,000.
• Guardant Health shares opened at $144.23, with a 12-month range of $40.35 to $174.08. Institutional investors own 92.6% of the company, while the consensus analyst rating is “Moderate Buy” with a $160.04 target price.
• Analysts have issued mixed but generally positive views, including upgraded price targets from Guggenheim and Barclays. Meanwhile, company insiders sold 708,565 shares worth roughly $90.6 million over the past 90 days, including a $21.7 million sale by CEO Amirali Talasaz.

Entropy Technologies LP lessened its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,136 shares of the company's stock after selling 10,957 shares during the period. Entropy Technologies LP's holdings in Guardant Health were worth $567,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GH. V Square Quantitative Management LLC acquired a new position in Guardant Health during the 4th quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Guardant Health in the fourth quarter valued at about $31,000. Elyxium Wealth LLC acquired a new stake in Guardant Health in the fourth quarter worth about $35,000. Parallel Advisors LLC boosted its holdings in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company's stock worth $36,000 after acquiring an additional 219 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in shares of Guardant Health during the first quarter worth about $38,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Guardant Health Price Performance

GH stock opened at $144.23 on Thursday. The firm's fifty day simple moving average is $141.90 and its 200-day simple moving average is $112.74. Guardant Health, Inc. has a 12 month low of $40.35 and a 12 month high of $174.08. The company has a market capitalization of $19.12 billion, a P/E ratio of -42.55 and a beta of 1.59.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Guardant Health in a report on Friday, July 17th. Piper Sandler set a $127.00 target price on shares of Guardant Health in a research note on Thursday, May 21st. UBS Group set a $150.00 target price on shares of Guardant Health in a research report on Wednesday, June 24th. Guggenheim upped their price target on shares of Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Finally, Barclays raised their price target on shares of Guardant Health from $120.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $160.04.

Insider Buying and Selling

In other Guardant Health news, CEO Amirali Talasaz sold 143,028 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the sale, the chief executive officer directly owned 1,881,336 shares of the company's stock, valued at approximately $285,097,657.44. This trade represents a 7.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of Guardant Health stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer owned 47,509 shares of the company's stock, valued at $6,110,607.58. The trade was a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 708,565 shares of company stock valued at $90,556,597 in the last 90 days. 5.60% of the stock is currently owned by insiders.

About Guardant Health

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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