Verition Fund Management LLC Buys 25,900 Shares of Guardant Health, Inc. (NASDAQ:GH)

Verition Fund Management LLC increased its holdings in shares of Guardant Health, Inc. (NASDAQ:GH - Free Report) by 220.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,641 shares of the company's stock after purchasing an additional 25,900 shares during the quarter. Verition Fund Management LLC's holdings in Guardant Health were worth $863,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GH. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Guardant Health by 6.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,986 shares of the company's stock valued at $665,000 after buying an additional 1,844 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Guardant Health in the third quarter valued at $343,000. Cerity Partners LLC raised its position in Guardant Health by 54.6% during the third quarter. Cerity Partners LLC now owns 195,008 shares of the company's stock worth $4,473,000 after acquiring an additional 68,883 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Guardant Health during the 3rd quarter worth approximately $721,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Guardant Health in the third quarter valued at $754,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Guardant Health

In related news, Director Meghan V. Joyce sold 2,896 shares of the business's 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 transaction, the director now owns 7,648 shares of the company's stock, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Guardant Health Stock Down 2.3 %

NASDAQ GH traded down $0.84 on Tuesday, reaching $35.53. The stock had a trading volume of 1,328,955 shares, compared to its average volume of 2,048,140. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $38.53. The business has a 50 day moving average price of $27.14 and a 200 day moving average price of $27.96. The company has a current ratio of 6.22, a quick ratio of 5.85 and a debt-to-equity ratio of 16.70. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -8.38 and a beta of 1.26.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business's revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.73) earnings per share. On average, analysts forecast that Guardant Health, Inc. will post -3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

GH has been the topic of several research reports. Piper Sandler increased their target price on Guardant Health from $30.00 to $34.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 13th. Sanford C. Bernstein cut their price target on shares of Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. UBS Group increased their target price on Guardant Health from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. The Goldman Sachs Group lifted their price target on shares of Guardant Health from $32.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Leerink Partners dropped their price objective on shares of Guardant Health from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Guardant Health currently has a consensus rating of "Moderate Buy" and an average target price of $40.60.

About Guardant Health

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.