Mangrove Partners IM LLC Takes Position in Guardant Health, Inc. $GH

Mangrove Partners IM LLC purchased a new stake in Guardant Health, Inc. (NASDAQ:GH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,737 shares of the company’s stock, valued at approximately $1,097,000.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after acquiring an additional 25,831 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Guardant Health during the 1st quarter worth approximately $274,000. Sei Investments Co. raised its stake in shares of Guardant Health by 15.8% during the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock worth $4,023,000 after acquiring an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after acquiring an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Guardant Health by 56.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after acquiring an additional 40,209 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Royal Bank Of Canada assumed coverage on shares of Guardant Health in a research note on Thursday, June 11th. They set an “outperform” rating and a $185.00 price objective for the company. Leerink Partners boosted their price objective on shares of Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Piper Sandler set a $127.00 price objective on shares of Guardant Health in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.95.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the company’s stock in a transaction that occurred on 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 owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Meghan V. Joyce sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total transaction of $1,269,800.00. Following the completion of the sale, the director owned 11,183 shares in the company, valued at $1,420,017.34. The trade was a 47.21% decrease in their position. 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. Insiders have sold a total of 449,006 shares of company stock worth $51,148,938 in the last three months. 5.60% of the stock is owned by company insiders.

Guardant Health Trading Down 1.9%

Shares of Guardant Health stock opened at $127.34 on Wednesday. Guardant Health, Inc. has a 12-month low of $40.35 and a 12-month high of $135.00. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of -37.56 and a beta of 1.61. The firm’s 50 day simple moving average is $104.90 and its two-hundred day simple moving average is $102.36.

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.