Kinetic Partners Management LP Makes New $19.49 Million Investment in Guardant Health, Inc. $GH

Key Points

• Kinetic Partners Management LP acquired 129,900 Guardant Health shares worth approximately $19.49 million, while institutional investors collectively owned 92.6% of the company.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year, and posted an adjusted loss of $0.42 per share, beating analysts’ loss estimate of $0.76.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $183.78, although insiders have sold 549,318 shares worth $82.6 million over the past 90 days.

Kinetic Partners Management LP purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 129,900 shares of the company's stock, valued at approximately $19,489,000. Kinetic Partners Management LP owned 0.10% of Guardant Health as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. ABS Investment Management LLC bought a new position in Guardant Health during the 2nd quarter worth approximately $345,069,000. TrinityBridge Ltd bought a new stake in Guardant Health in the second quarter valued at approximately $45,000. Elyxium Wealth LLC purchased a new stake in shares of Guardant Health during the fourth quarter valued at approximately $35,000. Parallel Advisors LLC boosted its stake in shares of Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company's stock valued at $36,000 after purchasing an additional 219 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of Guardant Health during the second quarter valued at approximately $59,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Stock Up 1.1%

GH opened at $164.92 on Wednesday. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58. The stock has a market cap of $22.13 billion, a PE ratio of -47.25 and a beta of 1.60. The business has a 50 day moving average of $155.33 and a 200-day moving average of $119.49.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. Guardant Health's revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) earnings per share. Equities analysts anticipate that Guardant Health, Inc. will post -2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

GH has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $150.00 target price on the stock. Citigroup increased their price target on shares of Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Evercore reissued an "outperform" rating and issued a $200.00 price target on shares of Guardant Health in a report on Monday, July 6th. Royal Bank Of Canada upped their price objective on shares of Guardant Health from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, Morgan Stanley increased their target price on shares of Guardant Health from $175.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $183.78.

Insider Transactions at Guardant Health

In related news, insider Terilyn J. Monroe sold 46,300 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the sale, the insider owned 22,979 shares of the company's stock, valued at $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Freeman sold 63,605 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the sale, the insider owned 65,374 shares in the company, valued at approximately $11,086,122.92. This trade represents a 49.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 549,318 shares of company stock worth $82,631,933. 5.60% of the stock is owned by insiders.

About Guardant Health

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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