Point72 Asia Singapore Pte. Ltd. Makes New $71,000 Investment in Guardant Health, Inc. (NASDAQ:GH)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,464 shares of the company’s stock, valued at approximately $71,000.

A number of other large investors also recently made changes to their positions in GH. Point72 Hong Kong Ltd bought a new stake in shares of Guardant Health in the 2nd quarter valued at about $807,000. Fred Alger Management LLC increased its stake in Guardant Health by 47.8% in the second quarter. Fred Alger Management LLC now owns 198,468 shares of the company’s stock valued at $5,732,000 after purchasing an additional 64,206 shares in the last quarter. First Light Asset Management LLC increased its stake in Guardant Health by 119.7% in the second quarter. First Light Asset Management LLC now owns 416,967 shares of the company’s stock valued at $12,042,000 after purchasing an additional 227,202 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Guardant Health in the second quarter worth $242,000. Finally, Xponance Inc. bought a new position in shares of Guardant Health during the second quarter worth $216,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GH. BTIG Research raised their price objective on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group lifted their price objective on Guardant Health from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Friday, June 28th. Piper Sandler lifted their price target on shares of Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group began coverage on shares of Guardant Health in a report on Monday, June 3rd. They issued a “buy” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Guardant Health Price Performance

NASDAQ:GH opened at $22.88 on Monday. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $37.04. The company has a market cap of $2.80 billion, a P/E ratio of -5.84 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. The stock’s 50-day simple moving average is $27.92 and its 200 day simple moving average is $25.23.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The company had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. During the same quarter in the prior year, the company earned ($0.67) EPS. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. As a group, sell-side analysts forecast that Guardant Health, Inc. will post -3.31 EPS for the current fiscal year.

Guardant Health Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.