Comerica Bank Lowers Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

Comerica Bank lessened its stake in Guardant Health, Inc. (NASDAQ:GH) by 23.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,225 shares of the company’s stock after selling 15,611 shares during the period. Comerica Bank’s holdings in Guardant Health were worth $1,595,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GH. PDT Partners LLC lifted its stake in shares of Guardant Health by 9.5% in the 4th quarter. PDT Partners LLC now owns 240,473 shares of the company’s stock worth $7,346,000 after acquiring an additional 20,931 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Guardant Health during the fourth quarter worth about $863,000. Susquehanna Fundamental Investments LLC acquired a new stake in Guardant Health in the fourth quarter valued at about $2,605,000. Nebula Research & Development LLC boosted its holdings in Guardant Health by 35.2% in the 4th quarter. Nebula Research & Development LLC now owns 51,845 shares of the company’s stock valued at $1,584,000 after purchasing an additional 13,484 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Guardant Health by 392.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 279,800 shares of the company’s stock worth $8,548,000 after purchasing an additional 223,000 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Trading Up 0.1 %

Shares of GH opened at $41.72 on Friday. Guardant Health, Inc. has a twelve month low of $20.14 and a twelve month high of $52.92. The firm has a market capitalization of $5.17 billion, a P/E ratio of -11.72 and a beta of 1.49. The stock’s fifty day simple moving average is $43.72 and its 200 day simple moving average is $38.97.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $189.91 million. During the same period in the previous year, the company posted ($0.46) EPS. The company’s revenue was up 20.8% compared to the same quarter last year. Sell-side analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GH shares. Guggenheim restated a “buy” rating and set a $56.00 target price on shares of Guardant Health in a research report on Monday, February 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up from $50.00) on shares of Guardant Health in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. UBS Group raised their price target on Guardant Health from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Twenty-one analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Guardant Health has a consensus rating of “Buy” and an average price target of $52.32.

Insider Activity

In other news, CEO Amirali Talasaz sold 106,784 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $49.01, for a total value of $5,233,483.84. Following the completion of the transaction, the chief executive officer now directly owns 2,202,672 shares in the company, valued at approximately $107,952,954.72. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 107,132 shares of company stock valued at $5,249,355. Company insiders own 5.50% 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.