Guardant Health, Inc. (NASDAQ:GH) Stock Position Boosted by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. boosted its stake in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 1,902.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 454,500 shares of the company's stock after acquiring an additional 431,800 shares during the period. Polar Asset Management Partners Inc. owned about 0.37% of Guardant Health worth $13,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GH. Fiduciary Alliance LLC lifted its stake in shares of Guardant Health by 7.6% in the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company's stock worth $363,000 after buying an additional 836 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Guardant Health in the fourth quarter valued at approximately $252,000. KBC Group NV raised its holdings in shares of Guardant Health by 63.6% during the 4th quarter. KBC Group NV now owns 5,658 shares of the company's stock worth $173,000 after acquiring an additional 2,200 shares during the period. R Squared Ltd acquired a new position in Guardant Health in the 4th quarter valued at about $26,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Guardant Health by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,198 shares of the company's stock worth $800,000 after acquiring an additional 2,537 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

Shares of NASDAQ:GH traded down $0.25 during trading on Tuesday, hitting $39.99. The company's stock had a trading volume of 491,656 shares, compared to its average volume of 2,170,840. The company has a market capitalization of $4.95 billion, a PE ratio of -11.23 and a beta of 1.49. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $52.92. The stock's 50-day moving average price is $43.75 and its two-hundred day moving average price is $39.88.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share 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 period in the previous year, the company earned ($0.46) earnings per share. Guardant Health's quarterly revenue was up 20.8% on a year-over-year basis. On average, equities analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $5,233,483.84. Following the sale, the chief executive officer now owns 2,202,672 shares in the company, valued at $107,952,954.72. This represents a 4.62% decrease in their ownership of the stock. 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 sold 107,132 shares of company stock worth $5,249,355. 6.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $60.00 target price (up previously from $50.00) on shares of Guardant Health in a research note on Tuesday, May 6th. Stephens reaffirmed an "overweight" rating and set a $55.00 price objective on shares of Guardant Health in a research report on Wednesday, March 26th. Canaccord Genuity Group boosted their target price on Guardant Health from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. UBS Group raised their price target on Guardant Health from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Barclays boosted their price objective on Guardant Health from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Twenty-one investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $52.32.

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.