Gibbs Wealth Management Acquires New Shares in Guardant Health, Inc. $GH

Gibbs Wealth Management purchased a new stake in Guardant Health, Inc. (NASDAQ:GH) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,935 shares of the company’s stock, valued at approximately $548,000.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Guardant Health in the 4th quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Guardant Health in the 4th quarter valued at $31,000. Elyxium Wealth LLC acquired a new position in Guardant Health during the 4th quarter worth about $35,000. Parallel Advisors LLC boosted its holdings in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 219 shares during the period. Finally, Ascentis Independent Advisors purchased a new position in Guardant Health during the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Stock Down 1.9%

Shares of GH opened at $147.33 on Friday. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of -43.46 and a beta of 1.59. Guardant Health, Inc. has a 52-week low of $40.35 and a 52-week high of $174.08. The stock has a 50 day moving average price of $139.41 and a 200 day moving average price of $111.95.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $126.30, for a total value of $12,630,000.00. Following the completion of the sale, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Saia sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $106.51, for a total value of $2,130,200.00. Following the completion of the sale, the insider directly owned 45,950 shares of the company’s stock, valued at $4,894,134.50. The trade was a 30.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 708,565 shares of company stock worth $90,556,597. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GH has been the subject of several recent research reports. Piper Sandler set a $127.00 price target on shares of Guardant Health in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. Guggenheim boosted their price objective on Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Sanford C. Bernstein upped their target price 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. Finally, Citigroup raised their target price on shares of Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and an average target price of $160.04.

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.