Fred Alger Management LLC Has $60.23 Million Holdings in Guardant Health, Inc. $GH

Key Points

• Fred Alger Management LLC reduced its Guardant Health stake by 7.6% in the fourth quarter, but still held 589,656 shares valued at about $60.2 million at the end of the reporting period.
• Guardant Health shares have performed strongly, recently opening at $127.34 and trading near their 52-week high of $135.00, with the company now carrying a market cap of about $16.9 billion.
• Analysts remain upbeat overall: several firms raised price targets, and the stock has a consensus rating of “Moderate Buy” with a consensus target price of $141.95.

Fred Alger Management LLC cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 7.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 589,656 shares of the company's stock after selling 48,831 shares during the period. Fred Alger Management LLC owned about 0.47% of Guardant Health worth $60,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in shares of Guardant Health by 19.5% during 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 in the last quarter. Eastern Bank grew its stake 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 buying an additional 139 shares during the last quarter. Xponance LLC increased its position in Guardant Health by 2.1% in the 4th quarter. Xponance LLC now owns 9,630 shares of the company's stock worth $984,000 after buying an additional 199 shares during the period. Danske Bank A S raised its position in shares of Guardant Health by 20.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the company's stock valued at $123,000 after buying an additional 200 shares during the last quarter. Finally, Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna raised its stake in shares of Guardant Health by 1.9% in the fourth 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 in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Price Performance

GH opened at $127.34 on Wednesday. The business has a fifty day simple moving average of $104.90 and a 200 day simple moving average of $102.36. The company has a market capitalization of $16.89 billion, a PE ratio of -37.56 and a beta of 1.61. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $135.00.

Analyst Upgrades and Downgrades

GH has been the subject of several recent analyst reports. Leerink Partners increased their price objective on Guardant Health from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Canaccord Genuity Group raised their target price on Guardant Health from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Citigroup raised their price target on Guardant Health from $135.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 20th. Piper Sandler set a $127.00 target price on Guardant Health in a research report on Thursday, May 21st. Finally, Stifel Nicolaus lifted their price objective on Guardant Health from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health has a consensus rating of "Moderate Buy" and a consensus target price of $141.95.

Insider Activity at Guardant Health

In other news, CEO Helmy Eltoukhy sold 100,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer directly owned 2,012,919 shares of the company's stock, valued at approximately $254,231,669.70. This represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $130.06, for a total value of $130,060.00. Following the sale, the director directly owned 639 shares in the company, valued at approximately $83,108.34. This trade represents a 61.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 449,006 shares of company stock worth $51,148,938 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

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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