Guardant Health, Inc. $GH Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Guardant Health stake by 39.9% in the first quarter, selling 59,190 shares and ending with 89,216 shares valued at about $8.24 million.
• Analyst sentiment remains broadly positive, with several firms raising price targets, including Citigroup to $215 and Evercore reaffirming a $200 target; the consensus rating is Moderate Buy with an average target of $155.70.
• Insider selling has been notable, including CEO Helmy Eltoukhy’s sale of 100,000 shares and Director Musa Tariq’s sale of 1,951 shares, while insiders sold 708,681 shares over the past three months.

Candriam S.C.A. lowered its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 39.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,216 shares of the company's stock after selling 59,190 shares during the period. Candriam S.C.A. owned about 0.07% of Guardant Health worth $8,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

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Analyst Ratings Changes

A number of analysts have commented on GH shares. Citigroup boosted their target price on Guardant Health from $150.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday. Guggenheim boosted their price target on Guardant Health from $135.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a research report on Tuesday, April 21st. Evercore reissued an "outperform" rating and set a $200.00 price target on shares of Guardant Health in a research report on Monday, July 6th. Finally, Royal Bank Of Canada began coverage on shares of Guardant Health in a research report on Thursday, June 11th. They issued an "outperform" rating and a $185.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $155.70.

Insiders Place Their Bets

In other news, CEO Helmy Eltoukhy sold 100,000 shares of the firm's 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 completion of the sale, the chief executive officer directly owned 2,012,919 shares of the company's stock, valued at $254,231,669.70. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Musa Tariq sold 1,951 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $131.16, for a total transaction of $255,893.16. Following the completion of the transaction, the director owned 11,048 shares of the company's stock, valued at approximately $1,449,055.68. The trade was a 15.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 708,681 shares of company stock worth $90,566,438. Company insiders own 5.60% of the company's stock.

Guardant Health Price Performance

NASDAQ:GH opened at $160.05 on Monday. The business has a 50 day simple moving average of $127.50 and a 200 day simple moving average of $108.35. The firm has a market capitalization of $21.22 billion, a P/E ratio of -47.21 and a beta of 1.59. Guardant Health, Inc. has a 12-month low of $40.35 and a 12-month high of $174.08.

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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