Guardant Health, Inc. $GH Shares Sold by Atika Capital Management LLC

Atika Capital Management LLC lowered its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 15.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,000 shares of the company’s stock after selling 17,000 shares during the period. Guardant Health makes up approximately 1.1% of Atika Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Atika Capital Management LLC owned approximately 0.07% of Guardant Health worth $8,406,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GH. Alyeska Investment Group L.P. acquired a new stake in Guardant Health during the 3rd quarter worth approximately $114,421,000. Price T Rowe Associates Inc. MD lifted its position in Guardant Health by 33.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after buying an additional 1,414,441 shares in the last quarter. Norges Bank purchased a new stake in Guardant Health during the fourth quarter worth approximately $128,499,000. Summit Partners Public Asset Management LLC grew its stake in Guardant Health by 674.5% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after buying an additional 741,958 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Guardant Health in the fourth quarter worth $55,073,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $150.20 on Friday. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $174.08. The stock’s 50-day simple moving average is $138.36 and its 200-day simple moving average is $111.70. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of -44.31 and a beta of 1.59.

Insider Activity at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 1,951 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the transaction, the director directly owned 11,048 shares of the company’s stock, valued at $1,449,055.68. This represents a 15.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $128.62, for a total value of $257,240.00. Following the transaction, the chief financial officer owned 47,509 shares of the company’s stock, valued at approximately $6,110,607.58. This trade represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 708,565 shares of company stock worth $90,556,597 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GH. Morgan Stanley raised their target price on shares of Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Evercore reiterated an “outperform” rating and issued a $200.00 price target on shares of Guardant Health in a report on Monday, July 6th. Piper Sandler set a $127.00 price objective on Guardant Health in a research report on Thursday, May 21st. Barclays boosted their price objective on Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. upped their target price on Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.04.

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.