Amova Asset Management Americas Inc. Trims Stock Position in Guardant Health, Inc. $GH

Amova Asset Management Americas Inc. cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 15.1% in the 4th quarter, Holdings Channel reports. The fund owned 640,295 shares of the company’s stock after selling 113,649 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Guardant Health were worth $65,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GH. AQR Capital Management LLC raised its stake in shares of Guardant Health by 56.5% during the 1st quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after buying an additional 25,831 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Guardant Health during the 1st quarter worth approximately $274,000. Sei Investments Co. raised its stake in shares of Guardant Health by 15.8% during the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock worth $4,023,000 after buying an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after buying an additional 54,284 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Guardant Health by 56.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after buying an additional 40,209 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Guardant Health news, Director Steve E. Krognes sold 9,294 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $132.51, for a total transaction of $1,231,547.94. Following the sale, the director owned 10,222 shares in the company, valued at approximately $1,354,517.22. This represents a 47.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Meghan V. Joyce sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $126.98, for a total value of $1,269,800.00. Following the sale, the director owned 11,183 shares in the company, valued at approximately $1,420,017.34. This trade represents a 47.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 452,238 shares of company stock worth $51,425,612 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GH has been the subject of a number of analyst reports. Canaccord Genuity Group increased their target price on Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Leerink Partners upped their price target on Guardant Health from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Citigroup upped their price target on Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Mizuho upped their price target on Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Guggenheim cut Guardant Health from a “buy” rating to a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Guardant Health has a consensus rating of “Moderate Buy” and a consensus price target of $139.80.

Guardant Health Stock Performance

Shares of NASDAQ:GH opened at $130.12 on Wednesday. The business’s fifty day moving average price is $101.04 and its two-hundred day moving average price is $101.54. The stock has a market cap of $17.25 billion, a PE ratio of -38.38 and a beta of 1.61. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $134.28.

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.