Ieq Capital LLC Buys New Stake in Guardant Health, Inc. $GH

Key Points

• Ieq Capital LLC has purchased 15,483 shares of Guardant Health, Inc., valued at approximately $660,000, indicating increasing institutional interest in the company.
• Shares of Guardant Health have recently decreased by 2.2%, with a current market price of $65.06, amidst a 12-month trading range between $20.14 and $68.00.
• Analysts are optimistic, with multiple firms upgrading their ratings and price targets, reflecting a consensus rating of "Buy" along with a target price of $57.50.

Ieq Capital LLC bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,483 shares of the company's stock, valued at approximately $660,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SVB Wealth LLC purchased a new stake in Guardant Health during the 1st quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Guardant Health during the fourth quarter worth about $61,000. GF Fund Management CO. LTD. acquired a new stake in shares of Guardant Health during the 4th quarter valued at approximately $79,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Guardant Health during the 1st quarter worth approximately $97,000. Finally, CWM LLC grew its stake in 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 acquiring an additional 1,477 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Analyst Upgrades and Downgrades

GH has been the topic of several recent research reports. BTIG Research lifted their target price on shares of Guardant Health from $65.00 to $70.00 and gave the company a "buy" rating in a report on Thursday. Raymond James Financial upped their price target on shares of Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI upgraded shares of Guardant Health to a "strong-buy" rating in a report on Monday, July 14th. Mizuho upped their price objective on shares of Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, Scotiabank upped their price target on shares of Guardant Health from $57.00 to $60.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the company. Based on data from MarketBeat.com, Guardant Health currently has an average rating of "Buy" and a consensus price target of $58.24.

Insider Buying and Selling at Guardant Health

In related news, Director Myrtle S. Potter sold 2,626 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.70, for a total value of $130,512.20. Following the completion of the transaction, the director directly owned 18,180 shares in the company, valued at $903,546. This trade represents a 12.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Musa Tariq sold 3,213 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $49.47, for a total transaction of $158,947.11. Following the sale, the director directly owned 7,190 shares in the company, valued at approximately $355,689.30. The trade was a 30.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,258 shares of company stock worth $5,880,919 over the last ninety days. 6.10% of the stock is owned by company insiders.

Guardant Health Trading Down 0.7%

Shares of NASDAQ:GH traded down $0.42 on Monday, reaching $59.71. 1,290,102 shares of the company's stock were exchanged, compared to its average volume of 2,385,470. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of -17.79 and a beta of 1.45. The company has a fifty day moving average of $53.12 and a 200-day moving average of $47.18. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $68.00.

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

Guardant Health 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.