Jupiter Topco LLC Invests $18.07 Million in Guardant Health, Inc. $GH

Jupiter Topco LLC acquired a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 120,471 shares of the company’s stock, valued at approximately $18,071,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC lifted its stake in Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock valued at $3,012,000 after buying an additional 25,831 shares in the last quarter. Empowered Funds LLC bought a new stake in Guardant Health in the 1st quarter valued at $274,000. Sei Investments Co. lifted its position in Guardant Health by 15.8% in the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Guardant Health by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after purchasing an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Guardant Health by 56.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after purchasing an additional 40,209 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Price Performance

Shares of GH stock opened at $161.50 on Friday. The stock has a market cap of $21.67 billion, a P/E ratio of -46.27 and a beta of 1.60. The company has a fifty day moving average price of $157.49 and a two-hundred day moving average price of $120.75. Guardant Health, Inc. has a one year low of $53.40 and a one year high of $176.58.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. As a group, equities research analysts anticipate that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Analyst Ratings Changes

GH has been the topic of several recent research reports. Stifel Nicolaus lifted their price target on Guardant Health from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their price objective on Guardant Health from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stephens lifted their target price on Guardant Health from $170.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. BTIG Research boosted their target price on Guardant Health from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price target on shares of Guardant Health in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and a consensus target price of $183.78.

Insider Buying and Selling

In other news, Director Medina Manuel Hidalgo sold 1,700 shares of Guardant Health stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $164.24, for a total transaction of $279,208.00. Following the completion of the transaction, the director directly owned 4,556 shares in the company, valued at approximately $748,277.44. The trade was a 27.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amirali Talasaz sold 37,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $169.16, for a total value of $6,343,500.00. Following the transaction, the chief executive officer directly owned 37,500 shares in the company, valued at $6,343,500. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 548,318 shares of company stock valued at $82,501,873. Insiders own 5.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.