Kinetic Partners Management LP Invests $19.49 Million in Guardant Health, Inc. $GH

Kinetic Partners Management LP purchased a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 129,900 shares of the company’s stock, valued at approximately $19,489,000.

Several other large investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. bought a new stake in shares of Guardant Health in the 3rd quarter worth $114,421,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Guardant Health by 33.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after purchasing an additional 1,414,441 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Guardant Health during the second quarter valued at $208,592,000. William Blair Investment Management LLC purchased a new stake in shares of Guardant Health during the second quarter valued at $196,737,000. Finally, Norges Bank purchased a new stake in shares of Guardant Health during the fourth quarter valued at $128,499,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GH shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research report on Friday, July 17th. Sanford C. Bernstein lifted their price target on shares of Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Stephens increased their price objective on shares of Guardant Health from $170.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Morgan Stanley raised their target price on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Barclays lifted their target price on shares of Guardant Health from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and a consensus price target of $183.78.

Insiders Place Their Bets

In related news, CEO Amirali Talasaz sold 143,028 shares of Guardant Health stock in a transaction on Monday, June 29th. The shares were sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the transaction, the chief executive officer owned 1,881,336 shares in the company, valued at approximately $285,097,657.44. The trade was a 7.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian T. Clark sold 14,180 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the sale, the director owned 2,975 shares of the company’s stock, valued at $472,787. The trade was a 82.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 549,318 shares of company stock valued at $82,631,933. Insiders own 5.60% of the company’s stock.

Guardant Health Stock Up 1.1%

NASDAQ GH opened at $164.92 on Wednesday. Guardant Health, Inc. has a 52 week low of $53.40 and a 52 week high of $176.58. The company has a market capitalization of $22.13 billion, a P/E ratio of -47.25 and a beta of 1.60. The stock’s 50-day moving average price is $155.33 and its 200-day moving average price is $119.49.

Guardant Health (NASDAQ:GH) last released its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same period in the prior year, the company posted ($0.44) earnings per share. The company’s revenue was up 44.3% compared to the same quarter last year. Research analysts anticipate that Guardant Health, Inc. will post -2.98 EPS for the current year.

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.