MPM Bioimpact LLC Sells 46,431 Shares of Guardant Health, Inc. (NASDAQ:GH)

MPM Bioimpact LLC lowered its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 452,739 shares of the company's stock after selling 46,431 shares during the period. Guardant Health accounts for 2.0% of MPM Bioimpact LLC's portfolio, making the stock its 19th largest holding. MPM Bioimpact LLC owned about 0.37% of Guardant Health worth $13,831,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Guardant Health by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock worth $368,205,000 after purchasing an additional 350,606 shares during the last quarter. Deep Track Capital LP raised its position in Guardant Health by 7.0% in the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company's stock worth $196,118,000 after purchasing an additional 419,006 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Guardant Health by 19.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after purchasing an additional 238,037 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Guardant Health by 15.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,464,213 shares of the company's stock worth $44,732,000 after purchasing an additional 197,729 shares during the last quarter. Finally, Norges Bank bought a new position in Guardant Health in the 4th quarter worth approximately $36,438,000. Institutional investors own 92.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on GH shares. Canaccord Genuity Group lifted their target price on shares of Guardant Health from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. UBS Group lifted their target price on shares of Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Barclays lifted their target price on shares of Guardant Health from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Mizuho began coverage on shares of Guardant Health in a report on Thursday, April 10th. They set an "outperform" rating and a $55.00 target price for the company. Twenty-one research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Guardant Health currently has an average rating of "Buy" and a consensus target price of $52.32.

Guardant Health Stock Performance

NASDAQ GH traded up $0.21 on Friday, reaching $40.67. The company had a trading volume of 1,632,150 shares, compared to its average volume of 2,182,837. The company's fifty day moving average is $43.81 and its 200-day moving average is $39.53. Guardant Health, Inc. has a 1-year low of $20.14 and a 1-year high of $52.92. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -11.42 and a beta of 1.49.

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

Insider Activity

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $49.01, for a total value of $5,233,483.84. Following the transaction, the chief executive officer now directly owns 2,202,672 shares of the company's stock, valued at $107,952,954.72. This represents a 4.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 107,132 shares of company stock valued at $5,249,355. 6.10% of the stock is owned by company insiders.

About Guardant Health

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.