Odyssean LLC Purchases Shares of 10,271 Guardant Health, Inc. $GH

Key Points

• Odyssean LLC acquired 10,271 shares of Guardant Health in the second quarter, worth approximately $1.54 million. Institutional investors and hedge funds collectively own 92.6% of the company.
• Guardant Health reported quarterly revenue of $334.98 million, up 44.3% year over year and above analyst expectations, while its adjusted loss of $0.42 per share beat estimates.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $183.78. However, insiders sold roughly $82.6 million of stock in the last quarter.

Odyssean LLC acquired a new stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,271 shares of the company's stock, valued at approximately $1,541,000.

Several other institutional investors also recently modified their holdings of GH. Elyxium Wealth LLC bought a new position in Guardant Health during the fourth quarter worth about $35,000. Parallel Advisors LLC raised its stake in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company's stock valued at $36,000 after buying an additional 219 shares during the period. Ascentis Independent Advisors bought a new stake in Guardant Health in the first quarter valued at approximately $38,000. Hollencrest Capital Management acquired a new stake in shares of Guardant Health in the first quarter valued at approximately $41,000. Finally, EFG International AG acquired a new stake in shares of Guardant Health in the fourth quarter valued at approximately $41,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Trading Up 1.1%

NASDAQ:GH opened at $164.92 on Wednesday. The stock has a market cap of $22.13 billion, a P/E ratio of -47.25 and a beta of 1.60. The stock has a 50 day simple moving average of $155.33 and a 200 day simple moving average of $119.49. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $314.23 million. During the same quarter in the previous year, the business earned ($0.44) EPS. The firm's quarterly revenue was up 44.3% on a year-over-year basis. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.98 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Mizuho boosted their target price on Guardant Health from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Wolfe Research started coverage on Guardant Health in a report on Tuesday, June 2nd. They set an "outperform" rating and a $150.00 price target for the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 price objective on shares of Guardant Health in a research report on Friday, July 31st. 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 report on Friday, July 31st. Finally, Guggenheim increased their price objective on shares of Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $183.78.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, insider Chris Freeman sold 63,605 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total value of $10,786,135.90. Following the completion of the sale, the insider owned 65,374 shares of the company's stock, valued at $11,086,122.92. The trade was a 49.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amirali Talasaz sold 143,028 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the transaction, the chief executive officer owned 1,881,336 shares in the company, valued at approximately $285,097,657.44. The trade was a 7.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 549,318 shares of company stock valued at $82,631,933 in the last quarter. Company insiders own 5.60% of the company's stock.

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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