Two Sigma Investments LP Purchases 525,368 Shares of Guardant Health, Inc. (NASDAQ:GH)

Two Sigma Investments LP lifted its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 38.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,890,714 shares of the company's stock after buying an additional 525,368 shares during the period. Two Sigma Investments LP owned about 1.53% of Guardant Health worth $57,761,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GH. R Squared Ltd purchased a new position in Guardant Health in the 4th quarter worth about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Guardant Health in the fourth quarter worth approximately $43,000. Kimelman & Baird LLC purchased a new position in shares of Guardant Health during the fourth quarter valued at approximately $58,000. NewEdge Advisors LLC lifted its position in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock valued at $59,000 after purchasing an additional 230 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Guardant Health in the fourth quarter worth approximately $61,000. Institutional investors own 92.60% of the company's stock.

Guardant Health Stock Performance

Shares of GH stock opened at $40.24 on Tuesday. The stock has a fifty day simple moving average of $43.75 and a two-hundred day simple moving average of $39.88. The firm has a market capitalization of $4.99 billion, a PE ratio of -11.30 and a beta of 1.49. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $52.92.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. The firm had revenue of $203.47 million during the quarter, compared to analysts' expectations of $189.91 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The firm's revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.46) earnings per share. On average, sell-side analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling at Guardant Health

In related news, CEO Amirali Talasaz sold 106,784 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $49.01, for a total value of $5,233,483.84. Following the sale, the chief executive officer now directly owns 2,202,672 shares in the company, valued at approximately $107,952,954.72. The trade was a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 107,132 shares of company stock valued at $5,249,355 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Guardant Health from $42.00 to $52.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Raymond James reiterated an "outperform" rating and set a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Piper Sandler reissued an "overweight" rating and issued a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a report on Tuesday, May 6th. Mizuho started coverage on Guardant Health in a research note on Thursday, April 10th. They set an "outperform" rating and a $55.00 price target for the company. Finally, Guggenheim reiterated a "buy" rating and issued a $56.00 price objective on shares of Guardant Health in a research note on Monday, February 24th. Twenty-one analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $52.32.

Guardant Health Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.