Guardant Health, Inc. $GH Stake Trimmed by Exome Asset Management LLC

Key Points

• Exome Asset Management LLC reduced its stake in Guardant Health by 13.9%, owning 127,182 shares after selling 20,618 shares in Q1.
• Analysts have a positive outlook on Guardant Health, with Evercore ISI upgrading it to a "strong-buy" and multiple firms raising their price targets, with an average target price of $58.24.
• Guardant Health reported a revenue increase of 31.0% year-over-year, with quarterly earnings exceeding analyst expectations, posting ($0.44) earnings per share compared to a predicted ($0.52).

Exome Asset Management LLC decreased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 13.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,182 shares of the company's stock after selling 20,618 shares during the period. Guardant Health accounts for 4.6% of Exome Asset Management LLC's portfolio, making the stock its 3rd largest position. Exome Asset Management LLC owned approximately 0.10% of Guardant Health worth $5,418,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. SVB Wealth LLC bought a new position in Guardant Health during the 1st quarter valued at approximately $54,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Guardant Health during the fourth quarter valued at $61,000. GF Fund Management CO. LTD. purchased a new position in shares of Guardant Health in the 4th quarter worth about $79,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Guardant Health in the 1st quarter worth about $97,000. Finally, CWM LLC grew its position in Guardant Health by 180.3% during the 1st quarter. CWM LLC now owns 2,296 shares of the company's stock valued at $98,000 after purchasing an additional 1,477 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Trading Down 3.3%

Guardant Health stock traded down $1.89 during midday trading on Friday, hitting $54.90. The stock had a trading volume of 2,780,184 shares, compared to its average volume of 2,391,234. The firm's fifty day moving average is $53.71 and its two-hundred day moving average is $47.55. The company has a market capitalization of $6.85 billion, a PE ratio of -16.39 and a beta of 1.46. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $68.00.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million during the quarter, compared to analysts' expectations of $211.19 million. The business's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the company earned ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ian T. Clark sold 6,672 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $48.38, for a total transaction of $322,791.36. Following the completion of the transaction, the director directly owned 9,851 shares of the company's stock, valued at approximately $476,591.38. This represents a 40.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.70, for a total value of $130,512.20. Following the transaction, the director directly owned 18,180 shares of the company's stock, valued at approximately $903,546. The trade was a 12.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,921 shares of company stock worth $23,558,346 in the last quarter. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GH. Evercore ISI upgraded shares of Guardant Health to a "strong-buy" rating in a research note on Monday, July 14th. BTIG Research boosted their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Scotiabank increased their target price on Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Raymond James Financial lifted their target price on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Mizuho upped their price target on Guardant Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $58.24.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.