Entropy Technologies LP Acquires 9,979 Shares of Guardant Health, Inc. $GH

Entropy Technologies LP boosted its holdings in Guardant Health, Inc. (NASDAQ:GH) by 140.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,093 shares of the company’s stock after acquiring an additional 9,979 shares during the quarter. Entropy Technologies LP’s holdings in Guardant Health were worth $1,746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GH. Alyeska Investment Group L.P. bought a new position in Guardant Health in the 3rd quarter valued at approximately $114,421,000. Norges Bank purchased a new stake in Guardant Health during the 4th quarter valued at $128,499,000. Franklin Resources Inc. raised its stake in Guardant Health by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock valued at $182,836,000 after buying an additional 606,368 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in Guardant Health during the 4th quarter valued at $55,073,000. Finally, Erste Asset Management GmbH raised its stake in Guardant Health by 48.3% during the 4th quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company’s stock valued at $106,781,000 after buying an additional 340,700 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays boosted their target price on shares of Guardant Health from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and set a $129.00 target price on shares of Guardant Health in a research note on Monday, February 23rd. Mizuho boosted their target price on shares of Guardant Health from $135.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, Wolfe Research initiated coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.95.

Guardant Health Price Performance

NASDAQ:GH opened at $129.82 on Tuesday. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of -38.29 and a beta of 1.61. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $135.00. The business has a fifty day moving average price of $104.23 and a 200-day moving average price of $102.22.

Insider Transactions at Guardant Health

In other Guardant Health news, CFO Michael Brian Bell sold 2,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the completion of the sale, the chief financial officer owned 47,509 shares in the company, valued at approximately $6,110,607.58. This represents a 4.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Helmy Eltoukhy sold 100,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $126.30, for a total value of $12,630,000.00. Following the completion of the sale, the chief executive officer owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. The trade was a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 449,238 shares of company stock worth $51,164,492 over the last three months. 5.60% of the stock is currently owned by insiders.

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.