Point72 Asset Management L.P. Makes New $26.67 Million Investment in Guardant Health, Inc. (NASDAQ:GH)

Point72 Asset Management L.P. bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 873,082 shares of the company’s stock, valued at approximately $26,673,000. Point72 Asset Management L.P. owned 0.71% of Guardant Health as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Guardant Health in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in Guardant Health during the 4th quarter worth about $43,000. Kimelman & Baird LLC bought a new stake in Guardant Health during the 4th quarter worth about $58,000. NewEdge Advisors LLC lifted its position in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after buying an additional 230 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Guardant Health during the 4th quarter worth about $80,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 106,784 shares of the stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 107,132 shares of company stock worth $5,249,355. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley boosted their price target on shares of Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Piper Sandler reissued an “overweight” rating and set a $60.00 price target (up from $50.00) on shares of Guardant Health in a research report on Tuesday, May 6th. Raymond James reissued an “outperform” rating and set a $59.00 price target (up from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Finally, Stifel Nicolaus boosted their price target on shares of Guardant Health from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Twenty-one research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Guardant Health has a consensus rating of “Buy” and an average price target of $52.32.

Guardant Health Stock Performance

Shares of GH opened at $40.67 on Friday. Guardant Health, Inc. has a 52 week low of $20.14 and a 52 week high of $52.92. The firm has a market cap of $5.04 billion, a P/E ratio of -11.42 and a beta of 1.49. The firm’s 50-day simple moving average is $43.81 and its 200 day simple moving average is $39.53.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.08. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The business had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. During the same quarter in the prior year, the business earned ($0.46) EPS. Guardant Health’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, equities analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

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.