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

ARK Investment Management LLC boosted its holdings in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 233.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,512,694 shares of the company's stock after purchasing an additional 1,059,104 shares during the quarter. ARK Investment Management LLC owned 1.24% of Guardant Health worth $34,701,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GH. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Guardant Health by 21.8% during 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. JNBA Financial Advisors bought a new position in Guardant Health during the third quarter worth about $26,000. Quarry LP bought a new position in Guardant Health during the second quarter worth about $44,000. Green Alpha Advisors LLC lifted its holdings in shares of Guardant Health by 23.6% in the third quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company's stock worth $201,000 after buying an additional 1,674 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in Guardant Health by 4.5% in the second quarter. Ensign Peak Advisors Inc now owns 41,450 shares of the company's stock valued at $1,197,000 after purchasing an additional 1,800 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Stock Performance

NASDAQ:GH traded up $0.02 during mid-day trading on Friday, reaching $28.61. 2,776,152 shares of the stock were exchanged, compared to its average volume of 2,069,648. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $37.04. The company has a 50 day simple moving average of $23.07 and a 200-day simple moving average of $25.90. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. The stock has a market capitalization of $3.52 billion, a P/E ratio of -6.99 and a beta of 1.11.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The company had revenue of $177.24 million for the quarter, compared to analysts' expectations of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The business's quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.67) EPS. Analysts anticipate that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GH shares. Piper Sandler boosted their target price on shares of Guardant Health from $30.00 to $34.00 and gave the company an "overweight" rating in a report on Tuesday, August 13th. Sanford C. Bernstein cut their price objective on shares of Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Leerink Partners lowered their price target on Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. UBS Group lifted their target price on Guardant Health from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, August 21st. Finally, Craig Hallum raised their price target on Guardant Health from $28.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Guardant Health presently has an average rating of "Moderate Buy" and a consensus price target of $40.35.

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.