First Light Asset Management LLC Sells 14,452 Shares of Guardant Health, Inc. $GH

Key Points

• First Light Asset Management reduced its Guardant Health stake by 4.9%, selling 14,452 shares and retaining 280,299 shares valued at approximately $25.9 million. Institutional investors collectively own 92.6% of GH.
• Guardant Health shares opened at $147.33, with a market capitalization of $19.54 billion and a 12-month trading range of $40.35 to $174.08. The stock’s 50-day and 200-day moving averages were $139.41 and $112.02, respectively.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $160.04. However, insiders sold 708,565 shares worth about $90.6 million over the past 90 days.

First Light Asset Management LLC cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,299 shares of the company's stock after selling 14,452 shares during the period. Guardant Health accounts for about 2.3% of First Light Asset Management LLC's portfolio, making the stock its 15th biggest position. First Light Asset Management LLC owned about 0.21% of Guardant Health worth $25,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GH. ABS Direct Equity Fund LLC bought a new position in shares of Guardant Health during the 1st quarter valued at approximately $210,000. Orbimed Advisors LLC bought a new stake in Guardant Health in the first quarter worth $40,199,000. Styrax Capital LP lifted its position in Guardant Health by 6.5% in the first quarter. Styrax Capital LP now owns 300,000 shares of the company's stock worth $27,711,000 after buying an additional 18,411 shares during the last quarter. Waverly Advisors LLC purchased a new position in Guardant Health during the first quarter worth $269,000. Finally, Caxton Associates LLP purchased a new position in Guardant Health during the first quarter worth $831,000. 92.60% of the stock is owned by institutional investors.

Insider Activity

In other Guardant Health news, Director Myrtle S. Potter sold 1,556 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $204,084.96. Following the completion of the sale, the director directly owned 20,971 shares in the company, valued at approximately $2,750,556.36. This represents a 6.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer directly owned 47,509 shares in the company, valued at $6,110,607.58. The trade was a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 708,565 shares of company stock valued at $90,556,597. Insiders own 5.60% of the company's stock.

Guardant Health Stock Performance

Shares of GH opened at $147.33 on Monday. The firm has a market capitalization of $19.54 billion, a P/E ratio of -43.46 and a beta of 1.59. Guardant Health, Inc. has a 12-month low of $40.35 and a 12-month high of $174.08. The firm has a fifty day moving average price of $139.41 and a 200-day moving average price of $112.02.

Analyst Ratings Changes

GH has been the topic of a number of analyst reports. Piper Sandler set a $127.00 price objective on shares of Guardant Health in a research report on Thursday, May 21st. Bank of America lifted their price target on shares of Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. UBS Group set a $150.00 price objective on shares of Guardant Health in a research report on Wednesday, June 24th. Mizuho boosted their target price on Guardant Health from $135.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Guardant Health in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $160.04.

Guardant Health Company 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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