Point72 Hong Kong Ltd Invests $189,000 in Guardant Health, Inc. (NASDAQ:GH)

Point72 Hong Kong Ltd purchased a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, HoldingsChannel reports. The firm purchased 6,200 shares of the company’s stock, valued at approximately $189,000.

A number of other hedge funds also recently modified their holdings of the business. Guyasuta Investment Advisors Inc. acquired a new position in Guardant Health in the fourth quarter valued at $206,000. Entropy Technologies LP acquired a new position in Guardant Health in the fourth quarter valued at $377,000. Stifel Financial Corp lifted its holdings in Guardant Health by 25.1% in the fourth quarter. Stifel Financial Corp now owns 49,927 shares of the company’s stock valued at $1,525,000 after buying an additional 10,006 shares during the period. Raymond James Financial Inc. acquired a new position in Guardant Health in the fourth quarter valued at $2,211,000. Finally, Swiss National Bank lifted its holdings in Guardant Health by 1.0% in the fourth quarter. Swiss National Bank now owns 241,900 shares of the company’s stock valued at $7,390,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Stock Performance

GH stock opened at $40.67 on Friday. The company has a market capitalization of $5.04 billion, a P/E ratio of -11.42 and a beta of 1.49. Guardant Health, Inc. has a 52-week low of $20.14 and a 52-week high of $52.92. The business has a 50-day simple moving average of $43.81 and a two-hundred day simple moving average of $39.53.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.08. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $203.47 million during the quarter, compared to the consensus estimate of $189.91 million. During the same quarter in the previous year, the business earned ($0.46) EPS. The company’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TD Securities boosted their target price on shares of Guardant Health from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Mizuho assumed coverage on shares of Guardant Health in a report on Thursday, April 10th. They issued an “outperform” rating and a $55.00 target price on the stock. Raymond James restated an “outperform” rating and issued a $59.00 target price (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Stephens reiterated an “overweight” rating and set a $55.00 price objective on shares of Guardant Health in a report on Wednesday, March 26th. Finally, Barclays increased their price objective on shares of Guardant Health from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Twenty-one investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Guardant Health has a consensus rating of “Buy” and a consensus target price of $52.32.

Insider Transactions at Guardant Health

In other news, CEO Amirali Talasaz sold 106,784 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $49.01, for a total value of $5,233,483.84. Following the transaction, the chief executive officer now owns 2,202,672 shares in the company, valued at $107,952,954.72. The trade was a 4.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 107,132 shares of company stock worth $5,249,355 in the last 90 days. Insiders own 6.10% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.