Sumitomo Mitsui Trust Group Inc. Sells 156,738 Shares of Guardant Health, Inc. $GH

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH) by 24.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 483,767 shares of the company’s stock after selling 156,738 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.37% of Guardant Health worth $44,686,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GH. V Square Quantitative Management LLC acquired a new position in shares of Guardant Health in the 4th quarter worth approximately $27,000. Chesapeake Asset Management LLC bought a new stake in Guardant Health during the 4th quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Guardant Health during the 4th quarter valued at about $31,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health in the 4th quarter valued at about $35,000. Finally, Parallel Advisors LLC boosted its stake in shares of Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 219 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Price Performance

NASDAQ:GH opened at $160.05 on Monday. The business’s 50-day simple moving average is $127.50 and its 200-day simple moving average is $108.35. Guardant Health, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $174.08. The stock has a market capitalization of $21.22 billion, a PE ratio of -47.21 and a beta of 1.59.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the transaction, the chief executive officer owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amirali Talasaz sold 210,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the sale, the chief executive officer directly owned 1,886,504 shares of the company’s stock, valued at $207,307,924.56. This represents a 10.02% 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. In the last 90 days, insiders have sold 708,681 shares of company stock valued at $90,566,438. 5.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on GH shares. JPMorgan Chase & Co. lifted their price target 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. Barclays raised their price objective on shares of Guardant Health from $120.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Piper Sandler set a $127.00 target price on shares of Guardant Health in a report on Thursday, May 21st. Bank of America upped their target price on shares of Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Mizuho increased their price target on Guardant Health from $135.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.70.

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.