Allspring Global Investments Holdings LLC Trims Stock Holdings in Guardant Health, Inc. $GH

Allspring Global Investments Holdings LLC lowered its stake in Guardant Health, Inc. (NASDAQ:GH) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 608,826 shares of the company’s stock after selling 9,773 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Guardant Health were worth $55,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP raised its position in shares of Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock valued at $53,000 after purchasing an additional 138 shares during the period. Eastern Bank grew its position in shares of Guardant Health by 6.9% during the fourth quarter. Eastern Bank now owns 2,160 shares of the company’s stock worth $221,000 after purchasing an additional 139 shares in the last quarter. First Pacific Financial raised its stake in Guardant Health by 33.1% during the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock valued at $52,000 after purchasing an additional 139 shares during the period. Xponance LLC raised its stake in Guardant Health by 2.1% during the 4th quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after purchasing an additional 199 shares during the period. Finally, Danske Bank A S lifted its holdings in Guardant Health by 20.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the company’s stock worth $123,000 after purchasing an additional 200 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Guardant Health

In other news, CEO Helmy Eltoukhy sold 100,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This represents a 4.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction 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. The trade was 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. Insiders have sold 708,565 shares of company stock valued at $90,556,597 over the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Guardant Health Stock Performance

Shares of GH opened at $155.87 on Friday. The company’s fifty day moving average is $134.21 and its 200 day moving average is $110.26. 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 $20.67 billion, a PE ratio of -45.98 and a beta of 1.59.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup upped their price target on Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a report on Tuesday, April 21st. Royal Bank Of Canada began coverage on shares of Guardant Health in a research note on Thursday, June 11th. They set an “outperform” rating and a $185.00 target price for the company. Barclays lifted their price target on shares of Guardant Health from $120.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Finally, Canaccord Genuity Group lifted their target price on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and a consensus target price of $160.04.

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.