Granite Investment Partners LLC Sells 62,473 Shares of Guardant Health, Inc. $GH

Granite Investment Partners LLC trimmed its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 39.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,726 shares of the company’s stock after selling 62,473 shares during the quarter. Granite Investment Partners LLC owned 0.07% of Guardant Health worth $8,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Guardant Health during the fourth quarter worth $27,000. Chesapeake Asset Management LLC acquired a new stake in Guardant Health in the fourth quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Guardant Health during the 4th quarter worth $31,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health during the fourth quarter worth about $35,000. Finally, Parallel Advisors LLC lifted its stake in shares of Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 219 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore reissued an “outperform” rating and set a $200.00 target price on shares of Guardant Health in a research report on Monday. Piper Sandler set a $127.00 price objective on shares of Guardant Health in a research report on Thursday, May 21st. Sanford C. Bernstein boosted their target price on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. BTIG Research increased their price target on Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Barclays boosted their price objective on Guardant Health from $120.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. One 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $153.74.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 1,951 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the completion of the sale, the director owned 11,048 shares of the company’s stock, valued at approximately $1,449,055.68. This trade represents a 15.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amirali Talasaz sold 143,028 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the transaction, the chief executive officer owned 1,881,336 shares in the company, valued at approximately $285,097,657.44. This represents a 7.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 708,681 shares of company stock valued at $90,566,438. Company insiders own 5.60% of the company’s stock.

Guardant Health Trading Down 4.1%

Shares of NASDAQ GH opened at $156.17 on Thursday. The firm’s 50-day moving average price is $124.35 and its 200-day moving average price is $107.49. Guardant Health, Inc. has a 1-year low of $40.35 and a 1-year high of $174.08. The firm has a market capitalization of $20.71 billion, a P/E ratio of -46.07 and a beta of 1.59.

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.