Guardant Health, Inc. $GH Shares Sold by Aristotle Atlantic Partners LLC

Key Points

• Aristotle Atlantic Partners trimmed its Guardant Health stake by 9.9% in the first quarter, selling 48,856 shares and leaving it with 445,530 shares worth about $41.2 million.
• Institutional ownership remains heavy, with 92.6% of Guardant Health shares held by institutions and hedge funds; several large investors, including Price T Rowe and Norges Bank, also boosted or initiated positions.
• Wall Street sentiment is bullish, with 23 Buy ratings, one Strong Buy, and a consensus price target of $160.04, while the stock recently traded at $147.33 after a 1.9% decline.

Aristotle Atlantic Partners LLC reduced its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 445,530 shares of the company's stock after selling 48,856 shares during the period. Guardant Health makes up about 1.9% of Aristotle Atlantic Partners LLC's holdings, making the stock its 15th largest position. Aristotle Atlantic Partners LLC owned about 0.34% of Guardant Health worth $41,154,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alyeska Investment Group L.P. acquired a new position in Guardant Health during the third quarter worth $114,421,000. Price T Rowe Associates Inc. MD raised its stake in shares of Guardant Health by 33.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company's stock worth $575,670,000 after buying an additional 1,414,441 shares during the last quarter. Norges Bank acquired a new position in shares of Guardant Health during the 4th quarter worth $128,499,000. Summit Partners Public Asset Management LLC boosted its position in shares of Guardant Health by 674.5% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock worth $87,019,000 after buying an additional 741,958 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Guardant Health in the 4th quarter worth about $55,073,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Trading Down 1.9%

Guardant Health stock opened at $147.33 on Friday. The stock has a fifty day moving average price of $139.41 and a 200 day moving average price of $111.95. Guardant Health, Inc. has a 52 week low of $40.35 and a 52 week high of $174.08. The firm has a market capitalization of $19.54 billion, a P/E ratio of -43.46 and a beta of 1.59.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Piper Sandler set a $127.00 price objective on Guardant Health in a research report on Thursday, May 21st. Barclays increased their target price on Guardant Health from $120.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. TD Cowen reissued a "buy" rating on shares of Guardant Health in a report on Thursday, July 2nd. Bank of America upped their price objective on Guardant Health from $135.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Finally, Citigroup increased their price objective on Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.04.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 210,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the transaction, the chief executive officer directly owned 1,886,504 shares of the company's stock, valued at $207,307,924.56. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 24,406 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the sale, the insider owned 60,034 shares of the company's stock, valued at approximately $7,124,234.78. This represents a 28.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 708,565 shares of company stock valued at $90,556,597 in the last three months. 5.60% of the stock is owned by company 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.

Want to see what other hedge funds are holding GH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Guardant Health, Inc. (NASDAQ:GH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.