Simplify Asset Management Inc. Sells 8,760 Shares of Guardant Health, Inc. $GH

Simplify Asset Management Inc. trimmed its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 29.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,821 shares of the company’s stock after selling 8,760 shares during the quarter. Simplify Asset Management Inc.’s holdings in Guardant Health were worth $1,923,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GH. Allworth Financial LP lifted its position in shares of Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after purchasing an additional 138 shares during the last quarter. Eastern Bank raised its stake in shares of Guardant Health by 6.9% in the fourth quarter. Eastern Bank now owns 2,160 shares of the company’s stock valued at $221,000 after purchasing an additional 139 shares in the last quarter. First Pacific Financial lifted its position in Guardant Health by 33.1% in the first quarter. First Pacific Financial now owns 559 shares of the company’s stock worth $52,000 after purchasing an additional 139 shares during the period. Xponance LLC increased its holdings in Guardant Health by 2.1% in the 4th quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after buying an additional 199 shares during the period. Finally, Danske Bank A S raised its stake in shares of Guardant Health by 20.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the company’s stock valued at $123,000 after buying an additional 200 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ:GH opened at $167.98 on Friday. The stock has a market capitalization of $22.27 billion, a P/E ratio of -49.55 and a beta of 1.59. Guardant Health, Inc. has a 1-year low of $40.35 and a 1-year high of $172.60. The business has a 50-day moving average price of $119.89 and a two-hundred day moving average price of $106.10.

Analysts Set New Price Targets

A number of research analysts have commented on GH shares. The Goldman Sachs Group started coverage on shares of Guardant Health in a research note on Friday, June 5th. They set a “buy” rating and a $165.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. Guggenheim increased their price target on Guardant Health from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Barclays boosted their price objective on Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Sanford C. Bernstein raised their target price on Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.32.

Insider Transactions at Guardant Health

In related news, Director Musa Tariq sold 1,951 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16. Following the sale, the director directly owned 11,048 shares in the company, valued at $1,449,055.68. This trade represents a 15.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amirali Talasaz sold 143,028 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $151.54, for a total value of $21,674,463.12. Following the transaction, the chief executive officer directly owned 1,881,336 shares of the company’s stock, valued at $285,097,657.44. This represents a 7.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 712,513 shares of company stock valued at $90,921,587. Corporate insiders own 5.60% of the company’s stock.

Guardant Health Profile

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.