Simplify Asset Management Inc. reduced its position in Guardant Health, Inc. (NASDAQ:GH – Free Report) by 29.6% in the 1st quarter, HoldingsChannel reports. The firm owned 20,821 shares of the company’s stock after selling 8,760 shares during the period. Simplify Asset Management Inc.’s holdings in Guardant Health were worth $1,923,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of GH. Allworth Financial LP lifted its position in shares of Guardant Health by 19.5% in the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock valued at $53,000 after buying an additional 138 shares during the last quarter. Eastern Bank raised its stake in Guardant Health by 6.9% in the 4th quarter. Eastern Bank now owns 2,160 shares of the company’s stock valued at $221,000 after acquiring an additional 139 shares during the period. First Pacific Financial lifted its holdings in Guardant Health by 33.1% during the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock valued at $52,000 after purchasing an additional 139 shares during the last quarter. Xponance LLC boosted its position in Guardant Health by 2.1% during the fourth quarter. Xponance LLC now owns 9,630 shares of the company’s stock worth $984,000 after purchasing an additional 199 shares during the period. Finally, Danske Bank A S raised its position in shares of Guardant Health by 20.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the company’s stock valued at $123,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.
Insider Activity at Guardant Health
In other news, Director Meghan V. Joyce sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total value of $1,269,800.00. Following the completion of the transaction, the director directly owned 11,183 shares in the company, valued at approximately $1,420,017.34. This represents a 47.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John G. Saia sold 20,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $106.51, for a total value of $2,130,200.00. Following the completion of the transaction, the insider owned 45,950 shares of the company’s stock, valued at $4,894,134.50. This represents a 30.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 712,513 shares of company stock valued at $90,921,587. 5.60% of the stock is owned by company insiders.
Guardant Health Stock Performance
Analyst Ratings Changes
GH has been the topic of several research reports. BTIG Research upped their target price on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday. Sanford C. Bernstein boosted their target price on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays lifted their price objective on shares of Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. TD Cowen reaffirmed a “buy” rating on shares of Guardant Health in a report on Thursday. Finally, The Goldman Sachs Group began coverage on Guardant Health in a research note on Friday, June 5th. They issued a “buy” rating and a $165.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.32.
Check Out Our Latest Research Report on GH
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.
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