Exchange Traded Concepts LLC Reduces Holdings in Guardant Health, Inc. $GH

Exchange Traded Concepts LLC lessened its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 24.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,566 shares of the company’s stock after selling 5,536 shares during the period. Exchange Traded Concepts LLC’s holdings in Guardant Health were worth $914,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Guardant Health during the 1st quarter worth about $54,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Guardant Health during the 1st quarter worth approximately $97,000. CWM LLC lifted its holdings in Guardant Health by 180.3% in the 1st quarter. CWM LLC now owns 2,296 shares of the company’s stock worth $98,000 after buying an additional 1,477 shares during the period. Nkcfo LLC purchased a new stake in Guardant Health in the 1st quarter worth approximately $107,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Guardant Health in the 4th quarter valued at approximately $79,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Activity at Guardant Health

In related news, CEO Helmy Eltoukhy sold 300,000 shares of Guardant Health stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total value of $17,835,000.00. Following the completion of the transaction, the chief executive officer owned 2,123,499 shares in the company, valued at $126,242,015.55. The trade was a 12.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amirali Talasaz sold 100,000 shares of Guardant Health stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $50.88, for a total value of $5,088,000.00. Following the completion of the transaction, the chief executive officer owned 1,971,830 shares of the company’s stock, valued at approximately $100,326,710.40. This represents a 4.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 402,691 shares of company stock worth $23,069,965 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Guardant Health Stock Performance

NASDAQ GH opened at $59.72 on Wednesday. The stock has a 50-day simple moving average of $54.89 and a two-hundred day simple moving average of $48.49. The firm has a market capitalization of $7.45 billion, a P/E ratio of -17.83 and a beta of 1.46. Guardant Health, Inc. has a fifty-two week low of $20.14 and a fifty-two week high of $68.00.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The company had revenue of $232.09 million for the quarter, compared to analysts’ expectations of $211.19 million. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.84) EPS. Guardant Health has set its FY 2025 guidance at EPS. As a group, analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on GH shares. Evercore ISI upgraded Guardant Health to a “strong-buy” rating in a research note on Monday, July 14th. BTIG Research reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Guardant Health in a report on Monday. Raymond James Financial lifted their target price on Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Scotiabank boosted their price objective on Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company initiated coverage on Guardant Health in a research report on Monday. They issued an “overweight” rating and a $72.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to MarketBeat, Guardant Health presently has a consensus rating of “Buy” and an average price target of $59.00.

Guardant Health Company 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.