Rathbones Group PLC Sells 38,606 Shares of Guardant Health, Inc. $GH

Key Points

• Rathbones Group reduced its Guardant Health stake by 18.8% in the first quarter, selling 38,606 shares and retaining 166,507 shares valued at approximately $15.38 million. Institutional investors collectively own 92.6% of the company.
• Guardant Health shares opened at $158.83, near the upper end of their 52-week range of $41.19 to $176.58. Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $179.82.
• Company insiders have been selling shares: insiders sold 708,565 shares worth approximately $90.6 million over the past 90 days, including substantial sales by CEOs Helmy Eltoukhy and AmirAli Talasaz.

Rathbones Group PLC cut its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 18.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,507 shares of the company's stock after selling 38,606 shares during the period. Rathbones Group PLC owned 0.13% of Guardant Health worth $15,380,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Guardant Health in the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Guardant Health during the 4th quarter worth approximately $31,000. Elyxium Wealth LLC acquired a new stake in Guardant Health during the 4th quarter valued at $35,000. Parallel Advisors LLC increased its holdings in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company's stock valued at $36,000 after purchasing an additional 219 shares in the last quarter. Finally, EFG International AG bought a new position in Guardant Health in the 4th quarter valued at $41,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Stock Performance

NASDAQ GH opened at $158.83 on Tuesday. The stock has a fifty day moving average of $144.24 and a 200-day moving average of $113.78. The stock has a market capitalization of $21.31 billion, a P/E ratio of -45.51 and a beta of 1.60. Guardant Health, Inc. has a 52 week low of $41.19 and a 52 week high of $176.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Royal Bank Of Canada boosted their price objective on Guardant Health from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday. BTIG Research lifted their price target on Guardant Health from $190.00 to $195.00 and gave the company a "buy" rating in a report on Friday. Bank of America lifted their price target on Guardant Health from $135.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 6th. TD Cowen upped their price target on shares of Guardant Health from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Evercore reissued an "outperform" rating and set a $200.00 price objective on shares of Guardant Health in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Guardant Health has an average rating of "Moderate Buy" and a consensus target price of $179.82.

Insider Buying and Selling at Guardant Health

In related news, CEO Helmy Eltoukhy sold 100,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $126.30, for a total value of $12,630,000.00. Following the transaction, the chief executive officer owned 2,012,919 shares in the company, valued at $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amirali Talasaz sold 210,000 shares of Guardant Health stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total value of $23,076,900.00. Following the completion of the sale, the chief executive officer owned 1,886,504 shares of the company's stock, valued at approximately $207,307,924.56. The trade was a 10.02% decrease in their ownership of the stock. 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 have sold a total of 708,565 shares of company stock valued at $90,556,597 over the last ninety days. 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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