Jennison Associates LLC Sells 966,559 Shares of Guardant Health, Inc. $GH

Jennison Associates LLC lessened its holdings in Guardant Health, Inc. (NASDAQ:GH) by 82.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 203,778 shares of the company’s stock after selling 966,559 shares during the quarter. Jennison Associates LLC owned 0.15% of Guardant Health worth $18,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Allworth Financial LP raised its holdings 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 buying an additional 138 shares in the last quarter. Eastern Bank grew its position in 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 acquiring an additional 139 shares during the last quarter. First Pacific Financial grew its position in Guardant Health by 33.1% in the first quarter. First Pacific Financial now owns 559 shares of the company’s stock valued at $52,000 after acquiring an additional 139 shares during the last quarter. Xponance LLC raised its stake in Guardant Health by 2.1% during the fourth quarter. Xponance LLC now owns 9,630 shares of the company’s stock worth $984,000 after acquiring an additional 199 shares in the last quarter. Finally, Danske Bank A S raised its stake in Guardant Health by 20.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the company’s stock worth $123,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Guardant Health from $130.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Royal Bank Of Canada began coverage on shares of Guardant Health in a research report on Thursday, June 11th. They set an “outperform” rating and a $185.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research note on Friday. Canaccord Genuity Group raised their target price on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, TD Cowen restated a “buy” rating on shares of Guardant Health in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and an average target price of $160.04.

Insider Buying and Selling

In other news, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,012,919 shares in the company, valued at $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Brian Bell sold 2,000 shares of Guardant Health stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the completion of the transaction, the chief financial officer directly owned 47,509 shares in the company, valued at approximately $6,110,607.58. This represents a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 708,565 shares of company stock valued at $90,556,597. Corporate insiders own 5.60% of the company’s stock.

Guardant Health Stock Up 2.9%

NASDAQ GH opened at $152.29 on Wednesday. The company has a market capitalization of $20.19 billion, a price-to-earnings ratio of -44.92 and a beta of 1.59. Guardant Health, Inc. has a twelve month low of $40.35 and a twelve month high of $174.08. The stock has a fifty day simple moving average of $136.28 and a 200 day simple moving average of $111.01.

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.