Wealthfront Advisers LLC Invests $458,000 in Guardant Health, Inc. $GH

Wealthfront Advisers LLC acquired a new position in Guardant Health, Inc. (NASDAQ:GH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,051 shares of the company’s stock, valued at approximately $458,000.

A number of other institutional investors also recently bought and sold shares of the company. Alpine Woods Capital Investors LLC purchased a new position in Guardant Health in the second quarter worth about $237,000. Deutsche Bank AG bought a new position in shares of Guardant Health in the 2nd quarter worth approximately $24,385,000. Perigon Wealth Management LLC bought a new position in shares of Guardant Health in the 2nd quarter worth approximately $1,073,000. Persistent Asset Partners Ltd purchased a new position in shares of Guardant Health in the second quarter worth approximately $641,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Guardant Health in the second quarter worth approximately $345,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Price Performance

GH opened at $170.69 on Friday. The firm has a market cap of $22.91 billion, a P/E ratio of -48.91 and a beta of 1.60. Guardant Health, Inc. has a 1-year low of $53.40 and a 1-year high of $176.58. The company has a 50 day simple moving average of $153.91 and a two-hundred day simple moving average of $118.69.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to analysts’ expectations of $314.23 million. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. Guardant Health’s revenue was up 44.3% on a year-over-year basis. Equities analysts anticipate that Guardant Health, Inc. will post -2.98 earnings per share for the current year.

Insider Activity

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the transaction, the chief executive officer owned 2,012,919 shares in the company, valued at $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ian T. Clark sold 14,180 shares of Guardant Health stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the completion of the transaction, the director directly owned 2,975 shares of the company’s stock, valued at $472,787. The trade was a 82.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 521,818 shares of company stock worth $77,539,233. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on GH shares. Bank of America upped their target price on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 6th. BTIG Research boosted their price objective on shares of Guardant Health from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Evercore restated an “outperform” rating and issued a $200.00 price objective on shares of Guardant Health in a research note on Monday, July 6th. Wolfe Research started coverage on Guardant Health in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 31st. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.