Capital International Investors Trims Holdings in Guardant Health, Inc. $GH

Capital International Investors decreased its holdings in Guardant Health, Inc. (NASDAQ:GH) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,528,656 shares of the company’s stock after selling 1,160,585 shares during the quarter. Capital International Investors owned about 2.80% of Guardant Health worth $360,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Guardant Health in the 4th quarter valued at $27,000. Chesapeake Asset Management LLC purchased a new position in Guardant Health during the 4th quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Guardant Health during the 4th quarter worth $31,000. Elyxium Wealth LLC purchased a new position in Guardant Health during the 4th quarter worth $35,000. Finally, Parallel Advisors LLC raised its position in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling

In other Guardant Health news, CEO Amirali Talasaz sold 210,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total value of $23,076,900.00. Following the completion of the transaction, the chief executive officer directly owned 1,886,504 shares of the company’s stock, valued at approximately $207,307,924.56. This trade represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the completion of the transaction, the insider directly owned 60,034 shares of the company’s stock, valued at approximately $7,124,234.78. This trade represents a 28.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 350,238 shares of company stock valued at $38,538,372 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Guardant Health Price Performance

Shares of NASDAQ GH opened at $125.61 on Monday. The firm has a 50-day moving average price of $99.39 and a 200 day moving average price of $101.12. Guardant Health, Inc. has a 52 week low of $40.35 and a 52 week high of $134.28. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of -37.05 and a beta of 1.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GH shares. JPMorgan Chase & Co. upped their price objective on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Piper Sandler set a $127.00 price objective on shares of Guardant Health in a research report on Thursday, May 21st. Barclays upped their price objective on shares of Guardant Health from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Leerink Partners upped their price objective on shares of Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Raymond James Financial restated an “outperform” rating and set a $129.00 price objective on shares of Guardant Health in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $137.80.

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.