Erste Asset Management GmbH Has $106.78 Million Stake in Guardant Health, Inc. $GH

Key Points

• Erste Asset Management GmbH boosted its Guardant Health stake by 48.3% in the fourth quarter, buying 340,700 additional shares and bringing its position to 1,045,917 shares worth about $106.8 million.
• Wall Street remains largely bullish on Guardant Health (NASDAQ: GH): analysts cited in the article show a consensus Buy rating with an average price target of $137.80.
• Recent insider selling has been notable, including sales by Chris Freeman and John G. Saia, while the stock was trading around $125.61, near its 52-week high of $134.28.

Erste Asset Management GmbH lifted its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 48.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,045,917 shares of the company's stock after buying an additional 340,700 shares during the quarter. Guardant Health comprises approximately 0.9% of Erste Asset Management GmbH's investment portfolio, making the stock its 27th largest holding. Erste Asset Management GmbH owned about 0.83% of Guardant Health worth $106,781,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Allworth Financial LP grew its position in Guardant Health by 19.5% in the 3rd quarter. Allworth Financial LP now owns 844 shares of the company's stock valued at $53,000 after purchasing an additional 138 shares during the period. Eastern Bank grew its position in Guardant Health by 6.9% in the 4th quarter. Eastern Bank now owns 2,160 shares of the company's stock valued at $221,000 after purchasing an additional 139 shares during the period. Danske Bank A S grew its position in Guardant Health by 20.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the company's stock valued at $123,000 after purchasing an additional 200 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna grew its position in Guardant Health by 1.9% in the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 11,000 shares of the company's stock valued at $1,124,000 after purchasing an additional 200 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Guardant Health by 20.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,242 shares of the company's stock valued at $127,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on GH shares. Piper Sandler set a $127.00 price target on shares of Guardant Health in a research report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Robert W. Baird started coverage on shares of Guardant Health in a research report on Tuesday, February 17th. They issued an "outperform" rating and a $120.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Guardant Health from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, February 20th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $129.00 price target on shares of Guardant Health in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $137.80.

Insider Activity

In other Guardant Health news, insider Chris Freeman sold 24,406 shares of Guardant Health stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the transaction, the insider directly owned 60,034 shares of the company's stock, valued at $7,124,234.78. The trade was a 28.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Saia sold 20,000 shares of Guardant Health stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $106.51, for a total transaction of $2,130,200.00. Following the transaction, the insider directly owned 45,950 shares in the company, valued at $4,894,134.50. This represents a 30.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 350,238 shares of company stock worth $38,538,372. Company insiders own 5.60% of the company's stock.

Guardant Health Price Performance

GH opened at $125.61 on Monday. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of -37.05 and a beta of 1.61. The firm's fifty day moving average price is $99.39 and its two-hundred day moving average price is $101.12. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $134.28.

Guardant Health Profile

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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