Rhenman & Partners Asset Management AB Makes New Investment in Guardant Health, Inc. $GH

Key Points

• Rhenman & Partners opened a new position in Guardant Health, buying 50,000 shares valued at about $3.12 million in the third quarter.
• Company insiders have sold heavily recently—238,919 shares (~$25.14 million) over the past 90 days (including CTO Darya Chudova and Terilyn Monroe)—and now own 6.10% of the stock.
• Guardant beat revenue estimates with $281.3 million (+39.4% YoY) but missed EPS expectations, while analysts maintain a consensus "Moderate Buy" rating with a target price of $122.57.

Rhenman & Partners Asset Management AB purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,000 shares of the company's stock, valued at approximately $3,124,000.

A number of other institutional investors have also modified their holdings of GH. Allworth Financial LP lifted its stake in Guardant Health by 358.4% during the 2nd quarter. Allworth Financial LP now owns 706 shares of the company's stock worth $37,000 after acquiring an additional 552 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Guardant Health in the 3rd quarter valued at about $38,000. Optiver Holding B.V. grew its position in Guardant Health by 153.5% in the 3rd quarter. Optiver Holding B.V. now owns 768 shares of the company's stock valued at $48,000 after acquiring an additional 465 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Guardant Health by 162.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,096 shares of the company's stock worth $68,000 after purchasing an additional 678 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in Guardant Health by 99.4% during the second quarter. SBI Securities Co. Ltd. now owns 1,366 shares of the company's stock worth $71,000 after purchasing an additional 681 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Guardant Health

In other news, CTO Darya Chudova sold 13,664 shares of the company's stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $105.04, for a total transaction of $1,435,266.56. Following the completion of the transaction, the chief technology officer directly owned 54,480 shares of the company's stock, valued at approximately $5,722,579.20. This represents a 20.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terilyn J. Monroe sold 10,031 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $112.08, for a total value of $1,124,274.48. Following the completion of the transaction, the insider owned 20,990 shares in the company, valued at approximately $2,352,559.20. The trade was a 32.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 238,919 shares of company stock valued at $25,137,732 over the last ninety days. Company insiders own 6.10% of the company's stock.

Guardant Health Stock Down 1.5%

NASDAQ GH opened at $91.20 on Friday. Guardant Health, Inc. has a 52 week low of $34.88 and a 52 week high of $120.74. The firm has a 50 day moving average of $105.29 and a two-hundred day moving average of $88.91. The stock has a market capitalization of $11.96 billion, a PE ratio of -27.55 and a beta of 1.67.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.07). The firm had revenue of $281.27 million for the quarter, compared to analyst estimates of $269.74 million. The company's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.62) EPS. On average, equities research analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GH shares. Robert W. Baird assumed coverage on shares of Guardant Health in a research note on Tuesday, February 17th. They set an "outperform" rating and a $120.00 target price on the stock. TD Cowen upped their price objective on Guardant Health from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. BTIG Research increased their price objective on Guardant Health from $140.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Evercore set a $110.00 target price on Guardant Health in a report on Friday, February 20th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Guardant Health in a research note on Thursday, January 22nd. Twenty-one investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Guardant Health has a consensus rating of "Moderate Buy" and a consensus target price of $122.57.

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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