GSA Capital Partners LLP Makes New $1.77 Million Investment in Guardant Health, Inc. $GH

Key Points

• GSA Capital Partners purchased 11,811 Guardant Health shares worth approximately $1.77 million during the second quarter, while institutional investors collectively own 92.6% of the company.
• Guardant Health shares opened at $157.21, near the upper end of their 52-week range of $53.40 to $176.58. The stock has a $21.1 billion market capitalization, and analysts maintain a “Moderate Buy” consensus with an average price target of $183.78.
• Several analysts recently raised their price targets, including TD Cowen to $210 and Royal Bank of Canada to $200. However, insiders sold 784,234 shares valued at approximately $106.5 million over the past three months.

GSA Capital Partners LLP purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,811 shares of the company's stock, valued at approximately $1,772,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SWS Partners purchased a new stake in shares of Guardant Health during the second quarter valued at $11,190,000. Handelsbanken Fonder AB increased its position in shares of Guardant Health by 159.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 301,041 shares of the company's stock valued at $45,165,000 after acquiring an additional 185,200 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Guardant Health in the 2nd quarter worth $213,000. Allied Private Wealth LLC purchased a new position in Guardant Health in the 2nd quarter worth $72,000. Finally, MRA Advisory Group lifted its position in Guardant Health by 6.2% during the 2nd quarter. MRA Advisory Group now owns 12,026 shares of the company's stock worth $1,804,000 after acquiring an additional 706 shares during the period. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Activity

In other Guardant Health news, Director Ian T. Clark sold 14,180 shares of Guardant Health 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 completion of the transaction, the director owned 2,975 shares of the company's stock, valued at approximately $472,787. The trade was a 82.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Medina Manuel Hidalgo sold 1,700 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total transaction of $279,208.00. Following the completion of the transaction, the director owned 4,556 shares of the company's stock, valued at approximately $748,277.44. This trade represents a 27.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 784,234 shares of company stock valued at $106,493,352 in the last three months. Corporate insiders own 5.60% of the company's stock.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $157.21 on Monday. The stock has a market capitalization of $21.10 billion, a price-to-earnings ratio of -45.05 and a beta of 1.60. Guardant Health, Inc. has a 12 month low of $53.40 and a 12 month high of $176.58. The firm's 50 day simple moving average is $150.40 and its 200-day simple moving average is $116.89.

Analysts Set New Price Targets

Several research firms have weighed in on GH. UBS Group set a $150.00 price target on Guardant Health in a research note on Wednesday, June 24th. Bank of America raised their price objective on Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Guggenheim lifted their target price on Guardant Health from $160.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. TD Cowen upped their target price on Guardant Health from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada increased their price target on shares of Guardant Health from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. One investment 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $183.78.

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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