Castleark Management LLC Acquires Shares of 80,293 Guardant Health, Inc. $GH

Castleark Management LLC acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 80,293 shares of the company’s stock, valued at approximately $12,046,000. Castleark Management LLC owned approximately 0.06% of Guardant Health at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Osterweis Capital Management Inc. purchased a new position in shares of Guardant Health during the 2nd quarter valued at approximately $14,601,000. Legal & General Group Plc purchased a new stake in Guardant Health in the 2nd quarter worth $20,865,000. The Manufacturers Life Insurance Company acquired a new position in Guardant Health during the second quarter worth $208,592,000. Brandywine Managers LLC acquired a new position in Guardant Health during the second quarter worth $1,370,000. Finally, Algert Global LLC lifted its holdings in Guardant Health by 11.4% during the second quarter. Algert Global LLC now owns 64,000 shares of the company’s stock valued at $9,602,000 after purchasing an additional 6,570 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Guardant Health

In other news, insider Terilyn J. Monroe sold 46,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total value of $7,645,056.00. Following the transaction, the insider directly owned 22,979 shares in the company, valued at approximately $3,794,292.48. This represents a 66.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Helmy Eltoukhy sold 100,000 shares of the company’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 transaction of $12,630,000.00. Following the completion of the transaction, the chief executive officer owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This represents a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 549,318 shares of company stock valued at $82,631,933 over the last quarter. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GH shares. Evercore reissued an “outperform” rating and set a $200.00 target price on shares of Guardant Health in a research note on Monday, July 6th. Piper Sandler raised their price target on shares of Guardant Health from $135.00 to $193.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Guggenheim lifted their price objective on Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup boosted their price objective on Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, BTIG Research raised their target price on Guardant Health from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.78.

Guardant Health Stock Up 1.1%

Shares of Guardant Health stock 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 business’s fifty day simple moving average is $155.33 and its 200-day simple moving average is $119.49. The firm has a market cap of $22.13 billion, a PE ratio of -47.25 and a beta of 1.60.

Guardant Health (NASDAQ:GH) last issued 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 business had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) earnings per share. As a group, equities analysts expect that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Guardant Health Company 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.