Formula Growth Ltd. Invests $2.90 Million in Guardant Health, Inc. $GH

Formula Growth Ltd. bought a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,300 shares of the company's stock, valued at approximately $2,896,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Orbimed Advisors LLC purchased a new stake in shares of Guardant Health during the 1st quarter valued at $40,199,000. World Investment Advisors purchased a new position in shares of Guardant Health in the 4th quarter worth about $1,664,000. Ninepoint Partners LP purchased a new position in shares of Guardant Health in the 2nd quarter worth about $2,853,000. GSA Capital Partners LLP bought a new position in Guardant Health during the second quarter valued at about $1,772,000. Finally, SWS Partners bought a new position in Guardant Health during the second quarter valued at about $11,190,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Guardant Health

In other news, insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction on Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the completion of the transaction, the insider directly owned 65,374 shares in the company, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian T. Clark sold 14,180 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total value of $2,253,485.60. Following the sale, the director owned 2,975 shares in the company, valued at approximately $472,787. The trade was a 82.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 548,318 shares of company stock worth $82,501,873. Company insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GH. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Guardant Health in a research report on Friday, July 31st. Stephens increased their target price on shares of Guardant Health from $170.00 to $195.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Sanford C. Bernstein increased their target price on shares of Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, July 2nd. BTIG Research raised their price target on shares of Guardant Health from $190.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Barclays lifted their price target on shares of Guardant Health from $150.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health currently has an average rating of "Moderate Buy" and a consensus price target of $183.78.

Guardant Health Stock Down 1.4%

NASDAQ GH opened at $168.52 on Friday. The company has a market cap of $22.62 billion, a PE ratio of -48.29 and a beta of 1.60. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58. The firm's 50-day simple moving average is $156.90 and its two-hundred day simple moving average is $120.47.

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

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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