Guardant Health, Inc. (NASDAQ:GH) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lessened its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,439,852 shares of the company's stock after selling 72,842 shares during the period. ARK Investment Management LLC owned approximately 1.17% of Guardant Health worth $43,987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GH. International Assets Investment Management LLC increased its position in shares of Guardant Health by 2,193.9% in the 3rd quarter. International Assets Investment Management LLC now owns 10,208 shares of the company's stock valued at $2,340,000 after acquiring an additional 9,763 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Guardant Health by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company's stock valued at $102,000 after acquiring an additional 796 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Guardant Health by 168.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,434 shares of the company's stock valued at $79,000 after acquiring an additional 2,153 shares during the period. abrdn plc increased its position in shares of Guardant Health by 47.9% in the 3rd quarter. abrdn plc now owns 552,473 shares of the company's stock valued at $12,674,000 after acquiring an additional 178,882 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Guardant Health by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,661 shares of the company's stock valued at $543,000 after acquiring an additional 9,283 shares during the period. Hedge funds and other institutional investors own 92.60% of the company's stock.

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Insider Transactions at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the sale, the director now owns 2,676 shares in the company, valued at approximately $93,660. This trade represents a 46.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,768 shares of company stock worth $98,798 in the last 90 days. Insiders own 5.50% of the company's stock.

Guardant Health Price Performance

Guardant Health stock traded up $0.44 during midday trading on Friday, reaching $42.55. The company had a trading volume of 1,488,593 shares, compared to its average volume of 2,513,654. The company has a market capitalization of $5.25 billion, a P/E ratio of -11.95 and a beta of 1.32. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $50.89. The firm's fifty day simple moving average is $40.87 and its 200-day simple moving average is $31.89.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The company had revenue of $201.81 million during the quarter, compared to analysts' expectations of $192.50 million. On average, analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GH shares. JPMorgan Chase & Co. increased their price target on Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Piper Sandler increased their price target on Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday. Barclays started coverage on Guardant Health in a research report on Thursday, January 23rd. They set an "overweight" rating and a $60.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and set a $56.00 price target on shares of Guardant Health in a research report on Monday, February 24th. Finally, Canaccord Genuity Group increased their price target on Guardant Health from $42.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $48.21.

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.