Tema Etfs LLC Reduces Stock Position in Guardant Health, Inc. $GH

Key Points

• Tema Etfs LLC reduced its stake in Guardant Health, Inc. by 71.9%, selling 25,960 shares, which leaves it with 10,160 shares valued at approximately $433,000.
• Guardant Health reported a quarterly EPS of ($0.44), exceeding analyst expectations, and demonstrated a 31% year-over-year revenue increase to $232.09 million.
• Most analysts have a consensus rating of "Buy" for Guardant Health, with target prices recently raised to $60.00 by multiple brokerages.

Tema Etfs LLC cut its position in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 71.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,160 shares of the company's stock after selling 25,960 shares during the period. Tema Etfs LLC's holdings in Guardant Health were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Deep Track Capital LP raised its position in Guardant Health by 7.0% during the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock valued at $196,118,000 after purchasing an additional 419,006 shares in the last quarter. Invesco Ltd. raised its position in Guardant Health by 100.9% during the 1st quarter. Invesco Ltd. now owns 2,794,667 shares of the company's stock valued at $119,053,000 after purchasing an additional 1,403,670 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Guardant Health by 96.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after acquiring an additional 1,138,300 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Guardant Health by 38.5% in the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company's stock worth $57,761,000 after acquiring an additional 525,368 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Guardant Health by 11.8% in the 1st quarter. Northern Trust Corp now owns 1,277,280 shares of the company's stock worth $54,412,000 after acquiring an additional 135,288 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Price Performance

NASDAQ GH traded up $2.95 during trading hours on Monday, reaching $67.42. The company's stock had a trading volume of 2,864,324 shares, compared to its average volume of 2,800,602. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of -20.13 and a beta of 1.45. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $67.51. The company's 50-day moving average is $51.69 and its two-hundred day moving average is $46.63.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.08. The business had revenue of $232.09 million during the quarter, compared to analyst estimates of $211.19 million. During the same period in the previous year, the company posted ($0.84) EPS. The business's revenue for the quarter was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. Equities analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GH shares. Evercore ISI raised Guardant Health to a "strong-buy" rating in a research report on Monday, July 14th. Mizuho boosted their price target on Guardant Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Raymond James Financial boosted their price target on Guardant Health from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Scotiabank boosted their target price on Guardant Health from $57.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Piper Sandler restated an "overweight" rating and set a $60.00 target price (up from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $57.50.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 3,337 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.22, for a total transaction of $157,573.14. Following the completion of the transaction, the director owned 11,150 shares of the company's stock, valued at $526,503. This represents a 23.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amirali Talasaz sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total value of $5,088,000.00. Following the transaction, the chief executive officer directly owned 1,971,830 shares of the company's stock, valued at $100,326,710.40. The trade was a 4.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 235,442 shares of company stock valued at $11,848,325. 6.10% of the stock is owned by insiders.

Guardant Health Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.