Lisanti Capital Growth LLC Takes $1.59 Million Position in Guardant Health, Inc. $GH

Key Points

• Lisanti Capital Growth purchased 10,610 Guardant Health shares worth approximately $1.59 million in the second quarter. Institutional investors collectively own 92.6% of the company.
• Analysts remain broadly bullish: 23 rate the stock a Buy and one rates it a Strong Buy, with an average price target of $183.78. Recent firms raised targets to between $195 and $210.
• Guardant Health reported better-than-expected quarterly results, including an adjusted loss of $0.42 per share versus the $0.76 consensus estimate and revenue of $335 million, up 44.3% year over year. Meanwhile, insiders sold more than 546,000 shares worth $80.4 million over the past three months.

Lisanti Capital Growth LLC purchased a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,610 shares of the company's stock, valued at approximately $1,592,000.

A number of other large investors have also added to or reduced their stakes in the stock. Eagle Health Investments LP bought a new position in Guardant Health during the 2nd quarter worth $45,112,000. Wealthfront Advisers LLC bought a new stake in shares of Guardant Health during the 2nd quarter valued at $458,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of Guardant Health during the 2nd quarter worth $237,000. Deutsche Bank AG acquired a new stake in shares of Guardant Health during the 2nd quarter worth $24,385,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Guardant Health in the second quarter worth $1,073,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Activity

In other news, insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the transaction, the insider directly owned 65,374 shares in the company, valued at $11,086,122.92. This trade represents a 49.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terilyn J. Monroe sold 46,300 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the sale, the insider directly owned 22,979 shares of the company's stock, valued at approximately $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 546,224 shares of company stock valued at $80,435,493. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GH shares. Stephens upped their price objective on shares of Guardant Health from $170.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Stifel Nicolaus raised their target price on shares of Guardant Health from $130.00 to $180.00 and gave the company a "buy" rating in a report on Friday, July 31st. Canaccord Genuity Group upped their price target on shares of Guardant Health from $135.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. TD Cowen boosted their target price on Guardant Health from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Sanford C. Bernstein increased their target price on Guardant Health from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, July 2nd. One equities research 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $183.78.

Guardant Health Stock Up 2.0%

Shares of NASDAQ:GH opened at $163.34 on Thursday. Guardant Health, Inc. has a twelve month low of $53.40 and a twelve month high of $176.58. The stock's 50 day moving average is $152.39 and its 200-day moving average is $117.95. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of -46.80 and a beta of 1.60.

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

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source