Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Guardant Health, Inc. (NASDAQ:GH – Free Report) by 19.8% during the third quarter, HoldingsChannel reports. The firm owned 324,732 shares of the company’s stock after selling 80,084 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Guardant Health were worth $57,919,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of GH. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Guardant Health in the third quarter valued at approximately $1,345,000. ProShare Advisors LLC increased its position in shares of Guardant Health by 6.5% during the third quarter. ProShare Advisors LLC now owns 5,005 shares of the company’s stock worth $893,000 after acquiring an additional 304 shares in the last quarter. Vise Technologies Inc. increased its position in shares of Guardant Health by 63.8% during the third quarter. Vise Technologies Inc. now owns 2,676 shares of the company’s stock worth $477,000 after acquiring an additional 1,042 shares in the last quarter. MGO One Seven LLC acquired a new stake in shares of Guardant Health during the third quarter worth $494,000. Finally, CHICAGO TRUST Co NA acquired a new stake in shares of Guardant Health during the third quarter worth $268,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Guardant Health
In other news, CTO Darya Chudova sold 7,738 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $178.00, for a total transaction of $1,377,364.00. Following the completion of the transaction, the chief technology officer directly owned 70,635 shares in the company, valued at $12,573,030. This represents a 9.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Freeman sold 63,605 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total value of $10,786,135.90. Following the completion of the transaction, the insider owned 65,374 shares of the company’s stock, valued at $11,086,122.92. The trade was a 49.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 163,060 shares of company stock valued at $27,538,217 in the last three months. 5.60% of the stock is currently owned by insiders.
Guardant Health Stock Up 2.5%
Shares of GH opened at $175.00 on Wednesday. Guardant Health, Inc. has a twelve month low of $74.55 and a twelve month high of $191.05. The stock has a market capitalization of $23.48 billion, a P/E ratio of -50.14 and a beta of 1.67. The company has a 50 day moving average of $169.95 and a 200-day moving average of $131.33.
Wall Street Analyst Weigh In
Several research firms recently commented on GH. Barclays boosted their price objective on shares of Guardant Health from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Stifel Nicolaus increased their target price on Guardant Health from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, July 31st. BTIG Research lifted their price target on Guardant Health from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Citigroup lifted their price target on Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted their price target on Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $191.00.
Check Out Our Latest Stock Analysis on GH
Guardant Health Profile
Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based tests and data solutions designed to help detect cancer, guide treatment decisions and monitor patients over time. Its technologies analyze circulating tumor DNA and other molecular information from blood samples, supporting more accessible and less invasive alternatives to some tissue-based testing approaches.
The company’s products include Guardant360, which helps identify genomic alterations in advanced cancers and may inform targeted treatment selection; Guardant360 Response, designed to assess a patient’s response to therapy; and Guardant Reveal, which is used to detect minimal residual disease and recurrence risk in certain cancers.
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