Fred Alger Management LLC Sells 43,039 Shares of Guardant Health, Inc. (NASDAQ:GH)

Fred Alger Management LLC lowered its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 21.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 155,429 shares of the company's stock after selling 43,039 shares during the period. Fred Alger Management LLC owned 0.13% of Guardant Health worth $3,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GH. Mirae Asset Global Investments Co. Ltd. increased its stake 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 in the last quarter. JNBA Financial Advisors bought a new stake in shares of Guardant Health in the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Guardant Health in the 3rd quarter valued at $34,000. Quarry LP bought a new stake in shares of Guardant Health in the 2nd quarter valued at $44,000. Finally, Green Alpha Advisors LLC increased its stake in shares of Guardant Health by 23.6% in the 3rd quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company's stock valued at $201,000 after acquiring an additional 1,674 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GH shares. JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Piper Sandler upped their target price on shares of Guardant Health from $30.00 to $34.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 13th. Leerink Partners reduced their target price on shares of Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Craig Hallum upped their target price on shares of Guardant Health from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Finally, TD Cowen upped their target price on shares of Guardant Health from $41.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.60.

Guardant Health Stock Performance

Shares of Guardant Health stock traded up $0.51 during trading hours on Friday, reaching $35.61. 815,237 shares of the stock traded hands, compared to its average volume of 2,345,106. The company has a 50 day moving average price of $25.21 and a 200 day moving average price of $27.35. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -8.40 and a beta of 1.11. Guardant Health, Inc. has a one year low of $15.81 and a one year high of $37.04. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $191.48 million for the quarter, compared to the consensus estimate of $170.49 million. During the same period in the prior year, the firm posted ($0.73) EPS. The business's revenue for the quarter was up 33.9% compared to the same quarter last year. On average, equities research analysts expect that Guardant Health, Inc. will post -3.38 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the sale, the director now directly owns 7,648 shares of the company's stock, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.50% of the company's stock.

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.