PDT Partners LLC Sells 32,760 Shares of Guardant Health, Inc. $GH

Key Points

• PDT Partners LLC decreased its stake in Guardant Health, Inc. by 13.6% in Q1, now holding 207,713 shares valued at approximately $8.85 million.
• Several institutional investors, including Deep Track Capital LP and Invesco Ltd., have increased their holdings in Guardant Health, with Invesco raising its stake by 100.9% during the same period.
• Equity analysts have shown positive sentiment towards Guardant Health, with multiple firms raising their price targets, including Mizuho which set a target of $65.00 and rated the stock as "outperform."

PDT Partners LLC lessened its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 207,713 shares of the company's stock after selling 32,760 shares during the period. Guardant Health makes up about 0.6% of PDT Partners LLC's investment portfolio, making the stock its 8th largest position. PDT Partners LLC owned about 0.17% of Guardant Health worth $8,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SVB Wealth LLC bought a new position in shares of Guardant Health in the 1st quarter valued at about $54,000. NewEdge Advisors LLC raised its position in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after purchasing an additional 230 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Guardant Health in the 4th quarter valued at approximately $61,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Guardant Health in the 1st quarter worth approximately $97,000. Finally, CWM LLC boosted its holdings in shares of Guardant Health by 180.3% in the 1st quarter. CWM LLC now owns 2,296 shares of the company's stock worth $98,000 after purchasing an additional 1,477 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 3,213 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $49.47, for a total transaction of $158,947.11. Following the sale, the director owned 7,190 shares in the company, valued at approximately $355,689.30. The trade was a 30.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian T. Clark sold 6,672 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $48.38, for a total value of $322,791.36. Following the sale, the director owned 9,851 shares in the company, valued at approximately $476,591.38. The trade was a 40.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,862 shares of company stock worth $11,770,909. 6.10% of the stock is owned by corporate insiders.

Guardant Health Trading Down 5.7%

Shares of GH stock traded down $3.70 during trading hours on Thursday, reaching $61.36. 4,697,946 shares of the company's stock were exchanged, compared to its average volume of 2,390,167. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $68.00. The stock has a market cap of $7.65 billion, a PE ratio of -18.32 and a beta of 1.46. The stock's fifty day moving average price is $52.93 and its two-hundred day moving average price is $47.12.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Raymond James Financial raised their price target on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Evercore ISI upgraded shares of Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Mizuho boosted 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. Scotiabank increased their price objective on shares of Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Finally, BTIG Research lifted their price objective on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price 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.