First Light Asset Management LLC Purchases 161,287 Shares of Guardant Health, Inc. $GH

First Light Asset Management LLC lifted its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 57.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,586 shares of the company's stock after purchasing an additional 161,287 shares during the period. Guardant Health accounts for about 4.0% of First Light Asset Management LLC's portfolio, making the stock its 8th biggest position. First Light Asset Management LLC owned 0.33% of Guardant Health worth $66,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in Guardant Health by 43.7% in the second quarter. Tidal Investments LLC now owns 24,593 shares of the company's stock valued at $3,690,000 after acquiring an additional 7,473 shares during the period. MCF Advisors LLC grew its position in Guardant Health by 755.0% in the 2nd quarter. MCF Advisors LLC now owns 171 shares of the company's stock valued at $26,000 after purchasing an additional 151 shares during the period. WINTON GROUP Ltd bought a new stake in Guardant Health during the 2nd quarter valued at $2,570,000. Engineers Gate Manager LP raised its holdings in Guardant Health by 20.0% during the second quarter. Engineers Gate Manager LP now owns 85,180 shares of the company's stock worth $12,780,000 after buying an additional 14,179 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Guardant Health by 82.7% in the second quarter. IFP Advisors Inc now owns 1,469 shares of the company's stock valued at $220,000 after buying an additional 665 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Guardant Health

In other news, Director Medina Hidalgo sold 1,700 shares of Guardant Health stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $164.24, for a total value of $279,208.00. Following the completion of the transaction, the director owned 4,556 shares in the company, valued at $748,277.44. This trade represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amirali Talasaz sold 37,500 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the sale, the chief executive officer owned 37,500 shares in the company, valued at $6,343,500. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 427,024 shares of company stock valued at $67,113,285. Insiders own 5.60% of the company's stock.

Guardant Health Stock Up 1.1%

Shares of GH stock opened at $162.78 on Thursday. The firm has a market cap of $21.85 billion, a P/E ratio of -46.64 and a beta of 1.57. The company has a 50 day moving average of $160.11 and a 200-day moving average of $124.02. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. During the same period in the prior year, the business earned ($0.44) earnings per share. The business's quarterly revenue was up 44.3% compared to the same quarter last year. As a group, equities analysts expect that Guardant Health, Inc. will post -2.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Guardant Health from $135.00 to $193.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Stephens lifted their target price on Guardant Health from $170.00 to $195.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Guggenheim increased their price target on Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Evercore reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Guardant Health in a report on Monday, July 6th. Finally, TD Cowen reissued a "buy" rating on shares of Guardant Health in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Guardant Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $187.71.

Guardant Health Company Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company's products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.

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