Amova Asset Management Americas Inc. Sells 156,738 Shares of Guardant Health, Inc. $GH

Amova Asset Management Americas Inc. trimmed its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 483,557 shares of the company’s stock after selling 156,738 shares during the period. Amova Asset Management Americas Inc. owned 0.36% of Guardant Health worth $44,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GH. Vanguard Group Inc. increased its stake in shares of Guardant Health by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company’s stock worth $1,242,101,000 after purchasing an additional 251,939 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Guardant Health by 33.5% in 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 during the period. Franklin Resources Inc. raised its stake in Guardant Health by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock valued at $343,348,000 after buying an additional 435,232 shares during the period. Geode Capital Management LLC lifted its position in shares of Guardant Health by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock valued at $328,297,000 after buying an additional 277,001 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Guardant Health by 3.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock worth $249,398,000 after acquiring an additional 72,162 shares during the period. 92.60% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Meghan V. Joyce sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $126.98, for a total value of $1,269,800.00. Following the transaction, the director directly owned 11,183 shares in the company, valued at approximately $1,420,017.34. This represents a 47.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 708,565 shares of company stock worth $90,556,597. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Guggenheim boosted their target price on Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Wolfe Research assumed coverage on Guardant Health in a report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Tuesday, April 21st. Piper Sandler set a $127.00 price objective on shares of Guardant Health in a report on Thursday, May 21st. Finally, Canaccord Genuity Group increased their price objective on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.04.

Guardant Health Trading Down 5.0%

NASDAQ:GH opened at $148.07 on Tuesday. The stock has a 50 day simple moving average of $135.24 and a 200 day simple moving average of $110.66. The stock has a market cap of $19.63 billion, a P/E ratio of -43.68 and a beta of 1.59. Guardant Health, Inc. has a 1-year low of $40.35 and a 1-year high of $174.08.

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.