Fred Alger Management LLC Has $60.23 Million Stock Holdings in Guardant Health, Inc. $GH

Fred Alger Management LLC decreased its stake in Guardant Health, Inc. (NASDAQ:GH) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,656 shares of the company’s stock after selling 48,831 shares during the period. Fred Alger Management LLC’s holdings in Guardant Health were worth $60,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in GH. Alyeska Investment Group L.P. acquired a new stake in Guardant Health during the third quarter worth approximately $114,421,000. Norges Bank bought a new position in shares of Guardant Health in the fourth quarter valued at approximately $128,499,000. Franklin Resources Inc. lifted its holdings in shares of Guardant Health by 26.1% in the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock valued at $182,836,000 after purchasing an additional 606,368 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Guardant Health during the fourth quarter worth $55,073,000. Finally, Erste Asset Management GmbH lifted its holdings in Guardant Health by 48.3% during the fourth quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company’s stock worth $106,781,000 after acquiring an additional 340,700 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Price Performance

GH opened at $127.34 on Wednesday. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $135.00. The business has a 50 day simple moving average of $104.90 and a two-hundred day simple moving average of $102.36. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of -37.56 and a beta of 1.61.

Insider Activity

In other Guardant Health news, CEO Amirali Talasaz sold 210,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the transaction, the chief executive officer owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. This represents a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 24,406 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $118.67, for a total value of $2,896,260.02. Following the transaction, the insider owned 60,034 shares in the company, valued at $7,124,234.78. This trade represents a 28.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 449,006 shares of company stock worth $51,148,938. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

GH has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on Guardant Health from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 20th. BTIG Research set a $160.00 price target on Guardant Health and gave the company a “buy” rating in a research report on Wednesday, May 27th. Wells Fargo & Company boosted their target price on Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Canaccord Genuity Group lifted their price target on Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Royal Bank Of Canada began coverage on Guardant Health in a research note on Thursday, June 11th. They set an “outperform” rating and a $185.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $141.95.

Guardant Health 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.