Eventide Asset Management LLC Lowers Holdings in Guardant Health, Inc. $GH

Key Points

• Eventide Asset Management LLC trimmed its Guardant Health stake by 4.0% in Q3 and still holds 3,321,338 shares (≈$207.5M), making GH its largest position; institutional investors own about 92.6% of the stock.
• Wall Street is largely positive: 21 analysts rate GH a Buy with a consensus "Moderate Buy" and an average price target of $122.57, with several firms recently raising targets into the $130–$145 range.
• Insiders have been net sellers (CEO Helmy Eltoukhy sold 90,565 shares; insiders sold 116,034 shares worth ≈$12.2M over 90 days), and Guardant recently missed EPS (-$0.50 vs. -$0.43) despite revenue beating expectations and rising 39.4% to $281.3M.

Eventide Asset Management LLC reduced its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,321,338 shares of the company's stock after selling 137,625 shares during the quarter. Guardant Health comprises 3.4% of Eventide Asset Management LLC's investment portfolio, making the stock its biggest position. Eventide Asset Management LLC owned about 2.64% of Guardant Health worth $207,507,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of Guardant Health in the third quarter worth $38,000. Allworth Financial LP boosted its position in shares of Guardant Health by 358.4% in the second quarter. Allworth Financial LP now owns 706 shares of the company's stock valued at $37,000 after acquiring an additional 552 shares during the period. Optiver Holding B.V. boosted its position in shares of Guardant Health by 153.5% in the third quarter. Optiver Holding B.V. now owns 768 shares of the company's stock valued at $48,000 after acquiring an additional 465 shares during the period. Smartleaf Asset Management LLC increased its holdings in Guardant Health by 162.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,096 shares of the company's stock worth $68,000 after acquiring an additional 678 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in Guardant Health in the 3rd quarter worth approximately $78,000. 92.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GH has been the topic of several research analyst reports. Piper Sandler upped their price target on shares of Guardant Health from $120.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, February 24th. Evercore set a $110.00 target price on Guardant Health in a research report on Friday, February 20th. BTIG Research upped their target price on Guardant Health from $140.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Barclays reiterated an "overweight" rating and set a $130.00 price target on shares of Guardant Health in a research report on Friday, February 20th. Finally, TD Cowen upped their price objective on shares of Guardant Health from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Twenty-one investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Guardant Health has a consensus rating of "Moderate Buy" and an average price target of $122.57.

Insider Transactions at Guardant Health

In related news, CTO Darya Chudova sold 5,451 shares of the business's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $104.04, for a total value of $567,122.04. Following the completion of the sale, the chief technology officer owned 7,012 shares in the company, valued at $729,528.48. The trade was a 43.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Helmy Eltoukhy sold 90,565 shares of the company's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $103.82, for a total value of $9,402,458.30. Following the completion of the sale, the chief executive officer directly owned 2,047,143 shares of the company's stock, valued at approximately $212,534,386.26. This represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 116,034 shares of company stock worth $12,202,492. 6.10% of the stock is owned by corporate insiders.

Guardant Health Stock Up 1.7%

GH opened at $85.49 on Friday. The stock has a market cap of $11.21 billion, a PE ratio of -25.83 and a beta of 1.67. Guardant Health, Inc. has a 52 week low of $36.36 and a 52 week high of $120.74. The business's fifty day simple moving average is $103.92 and its 200 day simple moving average is $89.83.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The business had revenue of $281.27 million during the quarter, compared to analysts' expectations of $269.74 million. During the same period in the prior year, the business posted ($0.62) earnings per share. The firm's revenue was up 39.4% on a year-over-year basis. As a group, equities analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

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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