Ninepoint Partners LP Makes New Investment in Guardant Health, Inc. $GH

Key Points

• Ninepoint Partners acquired 19,018 Guardant Health shares during the second quarter, valued at approximately $2.85 million. Institutional investors collectively own 92.6% of the company.
• Guardant Health reported better-than-expected quarterly results, with revenue rising 44.3% year over year to $334.98 million and an adjusted EPS loss of $0.42 versus the $0.76 consensus estimate.
• Insiders have been selling shares, including the CEO’s $21.7 million sale and a director’s $2.25 million sale; meanwhile, analysts maintain a broadly positive outlook with a “Moderate Buy” consensus rating and an average price target of $183.78.

Ninepoint Partners LP purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,018 shares of the company's stock, valued at approximately $2,853,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company's stock valued at $3,012,000 after purchasing an additional 25,831 shares in the last quarter. Empowered Funds LLC purchased a new position in Guardant Health in the 1st quarter valued at approximately $274,000. Sei Investments Co. boosted its position in Guardant Health by 15.8% in the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company's stock valued at $4,023,000 after buying an additional 10,538 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Guardant Health by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company's stock worth $32,922,000 after acquiring an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Guardant Health by 56.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company's stock worth $5,800,000 after acquiring an additional 40,209 shares during the period. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Buying and Selling at Guardant Health

In other news, Director Ian T. Clark sold 14,180 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the transaction, the director owned 2,975 shares in the company, valued at approximately $472,787. This represents a 82.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amirali Talasaz sold 143,028 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the completion of the transaction, the chief executive officer directly owned 1,881,336 shares in the company, valued at $285,097,657.44. This trade represents a 7.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 521,818 shares of company stock worth $77,539,233. 5.60% of the stock is owned by insiders.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $167.88 on Friday. Guardant Health, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $176.58. The firm has a market capitalization of $22.53 billion, a PE ratio of -48.10 and a beta of 1.60. The stock's 50-day simple moving average is $153.13 and its 200-day simple moving average is $118.33.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company earned ($0.44) earnings per share. On average, sell-side analysts forecast that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GH shares. Royal Bank Of Canada boosted their target price on Guardant Health from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Wolfe Research began coverage on Guardant Health in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $150.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Guardant Health from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. TD Cowen upped their target price on shares of Guardant Health from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Mizuho lifted their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Guardant Health has a consensus rating of "Moderate Buy" and a consensus target price of $183.78.

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.

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