Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Guardant Health, Inc. $GH

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 215,395 shares of the company’s stock, valued at approximately $32,316,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GH. Elevation Point Wealth Partners LLC acquired a new position in shares of Guardant Health during the second quarter worth approximately $404,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Guardant Health in the 2nd quarter worth $839,000. Quantbot Technologies LP acquired a new stake in Guardant Health in the 2nd quarter valued at $2,461,000. William Blair Investment Management LLC acquired a new stake in Guardant Health in the 2nd quarter valued at $196,737,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Guardant Health in the 2nd quarter valued at $1,971,000. Institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GH. Mizuho upped their price objective on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Bank of America lifted their price objective on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 6th. BTIG Research upped their target price on shares of Guardant Health from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Piper Sandler upped their target price on shares of Guardant Health from $135.00 to $193.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.78.

Insider Activity at Guardant Health

In related news, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the transaction, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terilyn J. Monroe sold 46,300 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the completion of the sale, the insider directly owned 22,979 shares of the company’s stock, valued at $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 559,318 shares of company stock valued at $83,882,733 over the last three months. Insiders own 5.60% of the company’s stock.

Guardant Health Trading Down 4.4%

NASDAQ GH opened at $163.18 on Tuesday. The business has a fifty day simple moving average of $154.58 and a 200 day simple moving average of $119.07. Guardant Health, Inc. has a 12 month low of $53.40 and a 12 month high of $176.58. The firm has a market capitalization of $21.90 billion, a P/E ratio of -46.76 and a beta of 1.60.

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

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.