Point72 Asset Management L.P. Purchases Shares of 873,082 Guardant Health, Inc. (NASDAQ:GH)

Point72 Asset Management L.P. bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 873,082 shares of the company's stock, valued at approximately $26,673,000. Point72 Asset Management L.P. owned approximately 0.71% of Guardant Health as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GH. Norges Bank purchased a new stake in shares of Guardant Health during the 4th quarter worth approximately $36,438,000. Polar Asset Management Partners Inc. increased its position in Guardant Health by 1,902.2% in the fourth quarter. Polar Asset Management Partners Inc. now owns 454,500 shares of the company's stock worth $13,885,000 after purchasing an additional 431,800 shares during the last quarter. Deep Track Capital LP raised its stake in Guardant Health by 7.0% during the fourth 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. Vanguard Group Inc. lifted its position in Guardant Health by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock valued at $368,205,000 after purchasing an additional 350,606 shares during the last quarter. Finally, Eversept Partners LP purchased a new position in shares of Guardant Health in the 4th quarter worth $8,433,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Stock Up 0.5%

Shares of Guardant Health stock traded up $0.19 on Thursday, reaching $37.28. The stock had a trading volume of 531,094 shares, compared to its average volume of 2,164,040. Guardant Health, Inc. has a 1 year low of $20.14 and a 1 year high of $52.92. The company has a 50 day moving average price of $43.62 and a 200 day moving average price of $39.87. The stock has a market capitalization of $4.62 billion, a P/E ratio of -10.49 and a beta of 1.49.

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

Insiders Place Their Bets

In related news, CEO Amirali Talasaz sold 106,784 shares of Guardant Health stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $49.01, for a total transaction of $5,233,483.84. Following the completion of the sale, the chief executive officer now owns 2,202,672 shares of the company's stock, valued at $107,952,954.72. The trade was a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 107,132 shares of company stock valued at $5,248,393. 6.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GH shares. The Goldman Sachs Group increased their price target on shares of Guardant Health from $49.00 to $56.00 and gave the company a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Stephens reiterated an "overweight" rating and set a $55.00 price objective on shares of Guardant Health in a report on Wednesday, March 26th. Raymond James reaffirmed an "outperform" rating and set a $59.00 target price (up from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Finally, Morgan Stanley boosted their price target on Guardant Health from $42.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Twenty-one analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target 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.