Future Fund LLC Increases Position in Guardant Health, Inc. $GH

Key Points

• Future Fund LLC increased its stake in Guardant Health by 26.2% in the first quarter, adding 9,638 shares to reach 46,465 shares valued at about $4.29 million.
• Wall Street sentiment is broadly bullish, with analysts including UBS, Wolfe Research, Morgan Stanley, and Goldman Sachs issuing high price targets; the consensus rating is Moderate Buy with an average target of $160.04.
• Insiders have been selling shares, including CEO Amirali Talasaz and Director Musa Tariq, while the stock recently traded at $155.87, near its 52-week high of $174.08.

Future Fund LLC grew its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 26.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,465 shares of the company's stock after purchasing an additional 9,638 shares during the quarter. Guardant Health makes up 1.5% of Future Fund LLC's investment portfolio, making the stock its 11th largest position. Future Fund LLC's holdings in Guardant Health were worth $4,292,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GH. V Square Quantitative Management LLC purchased a new position in Guardant Health in the fourth quarter valued at $27,000. Chesapeake Asset Management LLC purchased a new stake in Guardant Health during the 4th quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Guardant Health during the 4th quarter worth about $31,000. Elyxium Wealth LLC purchased a new stake in Guardant Health during the 4th quarter worth about $35,000. Finally, Parallel Advisors LLC boosted its position in shares of Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company's stock worth $36,000 after acquiring an additional 219 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GH shares. UBS Group set a $150.00 price objective on Guardant Health in a report on Wednesday, June 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Guardant Health in a research note on Tuesday, April 21st. Wolfe Research began coverage on Guardant Health in a report on Tuesday, June 2nd. They issued an "outperform" rating and a $150.00 price target for the company. Morgan Stanley increased their price target on shares of Guardant Health from $130.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Guardant Health in a report on Friday, June 5th. They set a "buy" rating and a $165.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $160.04.

Insiders Place Their Bets

In related news, CEO Amirali Talasaz sold 143,028 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the sale, the chief executive officer directly owned 1,881,336 shares of the company's stock, valued at $285,097,657.44. This represents a 7.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Musa Tariq sold 1,951 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the transaction, the director owned 11,048 shares in the company, valued at $1,449,055.68. This represents a 15.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 708,565 shares of company stock worth $90,556,597. Corporate insiders own 5.60% of the company's stock.

Guardant Health Price Performance

NASDAQ GH opened at $155.87 on Friday. The company has a fifty day moving average of $134.21 and a two-hundred day moving average of $110.26. The company has a market capitalization of $20.67 billion, a PE ratio of -45.98 and a beta of 1.59. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $174.08.

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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