HighVista Strategies LLC Acquires 36,318 Shares of Guardant Health, Inc. $GH

Key Points

• HighVista Strategies LLC boosted its stake in Guardant Health by 128.5% in Q3, buying 36,318 shares to hold 64,583 shares valued at about $4.04 million.
• Company insiders sold a net 20,018 shares worth roughly $2.23 million in the last quarter (notably Terilyn J. Monroe and director Medina Manuel Hidalgo), leaving insiders with about 6.1% ownership.
• Guardant missed EPS estimates (‑$0.50 vs. ‑$0.43) but beat revenue at $281.27 million (up 39.4% YoY); analysts remain largely positive with a consensus "Moderate Buy" and an average target of about $122.57.

HighVista Strategies LLC increased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 128.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,583 shares of the company's stock after purchasing an additional 36,318 shares during the period. Guardant Health accounts for 1.0% of HighVista Strategies LLC's holdings, making the stock its 27th biggest holding. HighVista Strategies LLC owned about 0.05% of Guardant Health worth $4,035,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its stake in Guardant Health by 3.2% in the third quarter. TD Waterhouse Canada Inc. now owns 4,891 shares of the company's stock worth $306,000 after buying an additional 151 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Guardant Health by 8.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,016 shares of the company's stock valued at $251,000 after acquiring an additional 307 shares in the last quarter. Main Management ETF Advisors LLC boosted its position in Guardant Health by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 21,257 shares of the company's stock valued at $1,106,000 after acquiring an additional 348 shares in the last quarter. CWM LLC increased its holdings in shares of Guardant Health by 21.6% in the 3rd quarter. CWM LLC now owns 2,020 shares of the company's stock valued at $126,000 after acquiring an additional 359 shares during the period. Finally, Trivium Point Advisory LLC increased its holdings in shares of Guardant Health by 8.1% in the 3rd quarter. Trivium Point Advisory LLC now owns 5,167 shares of the company's stock valued at $323,000 after acquiring an additional 385 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Guardant Health news, insider Terilyn J. Monroe sold 8,571 shares of the company's stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $114.09, for a total value of $977,865.39. Following the sale, the insider directly owned 20,990 shares of the company's stock, valued at approximately $2,394,749.10. This represents a 28.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Medina Manuel Hidalgo sold 1,300 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $91.54, for a total value of $119,002.00. Following the sale, the director directly owned 1,193 shares in the company, valued at $109,207.22. This represents a 52.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,018 shares of company stock worth $2,232,911 in the last quarter. Company insiders own 6.10% of the company's stock.

Guardant Health Stock Up 1.7%

Shares of NASDAQ GH opened at $85.49 on Monday. Guardant Health, Inc. has a 52 week low of $36.36 and a 52 week high of $120.74. The business's 50 day moving average price is $103.92 and its 200 day moving average price is $90.02. The firm has a market cap of $11.21 billion, a P/E ratio of -25.83 and a beta of 1.67.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.07). The business had revenue of $281.27 million for the quarter, compared to the consensus estimate of $269.74 million. During the same period in the previous year, the company earned ($0.62) earnings per share. The company's revenue was up 39.4% compared to the same quarter last year. As a group, research analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of analyst reports. Mizuho set a $135.00 price objective on Guardant Health in a research note on Friday, January 9th. Leerink Partners lifted their target price on Guardant Health from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. TD Cowen boosted their target price on shares of Guardant Health from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a research report on Thursday, January 22nd. Finally, Morgan Stanley lifted their price objective on shares of Guardant Health from $105.00 to $130.00 and gave the stock an "overweight" rating in a research report on Monday, December 1st. Twenty-one investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.57.

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.

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.