Seven Grand Managers LLC Buys Shares of 40,000 Guardant Health, Inc. $GH

Seven Grand Managers LLC bought a new position in Guardant Health, Inc. (NASDAQ:GH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 40,000 shares of the company’s stock, valued at approximately $4,086,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Guardant Health by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company’s stock valued at $1,242,101,000 after purchasing an additional 251,939 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Guardant Health by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock valued at $328,297,000 after acquiring an additional 277,001 shares during the period. Franklin Resources Inc. lifted its stake in shares of Guardant Health by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock worth $182,836,000 after buying an additional 606,368 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Guardant Health during the 3rd quarter worth about $114,421,000. Finally, Federated Hermes Inc. lifted its stake in shares of Guardant Health by 21.2% during the 3rd quarter. Federated Hermes Inc. now owns 1,776,369 shares of the company’s stock worth $110,988,000 after buying an additional 310,931 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Stifel Nicolaus raised their target price on shares of Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 20th. UBS Group reissued a “buy” rating and issued a $175.00 target price on shares of Guardant Health in a report on Friday, January 30th. Evercore set a $110.00 target price on shares of Guardant Health in a report on Friday, February 20th. Finally, Citigroup raised their target price on shares of Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 20th. Nineteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Guardant Health has an average rating of “Moderate Buy” and an average price target of $129.79.

Guardant Health Stock Up 6.4%

GH stock opened at $127.51 on Thursday. Guardant Health, Inc. has a 12 month low of $37.73 and a 12 month high of $128.00. The firm has a market cap of $16.91 billion, a P/E ratio of -37.61 and a beta of 1.48. The company’s 50-day moving average price is $93.34 and its two-hundred day moving average price is $99.48.

Insider Activity at Guardant Health

In related news, CEO Amirali Talasaz sold 210,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the sale, the chief executive officer directly owned 1,886,504 shares of the company’s stock, valued at approximately $207,307,924.56. The trade was a 10.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Medina Manuel Hidalgo sold 1,250 shares of Guardant Health stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $107.09, for a total transaction of $133,862.50. Following the sale, the director directly owned 1,639 shares in the company, valued at $175,520.51. This trade represents a 43.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 321,244 shares of company stock worth $34,775,166 in the last ninety days. 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.