Odyssean LLC Invests $1.54 Million in Guardant Health, Inc. $GH

Odyssean LLC purchased a new position in Guardant Health, Inc. (NASDAQ:GH) during the second quarter, Holdings Channel reports. The firm purchased 10,271 shares of the company’s stock, valued at approximately $1,541,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ABS Investment Management LLC bought a new position in Guardant Health in the 2nd quarter valued at about $345,069,000. TrinityBridge Ltd acquired a new stake in shares of Guardant Health during the 2nd quarter worth approximately $45,000. Elyxium Wealth LLC bought a new position in Guardant Health in the fourth quarter valued at approximately $35,000. Parallel Advisors LLC increased its stake in Guardant Health by 164.7% in the fourth 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 last quarter. Finally, Global Retirement Partners LLC acquired a new position in Guardant Health during the second quarter valued at approximately $59,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ:GH 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 company has a market capitalization of $22.13 billion, a PE ratio of -47.25 and a beta of 1.60. The company has a fifty day moving average of $155.33 and a 200-day moving average of $119.49.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. The company’s revenue was up 44.3% compared to the same quarter last year. During the same period last year, the business earned ($0.44) EPS. On average, equities analysts forecast that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In other news, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health 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 sale, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amirali Talasaz sold 143,028 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 1,881,336 shares in the company, valued at approximately $285,097,657.44. This trade 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 sold 549,318 shares of company stock valued at $82,631,933. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GH. TD Cowen restated a “buy” rating on shares of Guardant Health in a research note on Tuesday. Canaccord Genuity Group lifted their price target on Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Morgan Stanley boosted their price target on Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. UBS Group set a $150.00 price objective on Guardant Health in a research report on Wednesday, June 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. One investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.78.

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.