ARK Investment Management LLC Trims Stock Position in Guardant Health, Inc. (NASDAQ:GH)

ARK Investment Management LLC lowered its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 4.8% in the fourth quarter, according to its most recent 13F filing with the SEC. 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 about 1.17% of Guardant Health worth $43,987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. 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 purchasing an additional 796 shares in the last quarter. Fiduciary Alliance LLC increased its stake in shares of Guardant Health by 7.6% in the 4th quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after purchasing an additional 836 shares in the last quarter. R Squared Ltd purchased a new position in shares of Guardant Health in the 4th quarter valued at about $26,000. Van ECK Associates Corp increased its stake in shares of Guardant Health by 47.4% in the 4th quarter. Van ECK Associates Corp now owns 2,887 shares of the company’s stock valued at $88,000 after purchasing an additional 929 shares in the last quarter. Finally, JNBA Financial Advisors purchased a new position in shares of Guardant Health in the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling

In other news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares in the company, valued at $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 2,768 shares of company stock worth $98,798. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their target price on Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Scotiabank increased their target price on Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday. Finally, Sanford C. Bernstein reduced their target price on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $47.37.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $40.35 on Wednesday. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -11.33 and a beta of 1.32. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The stock has a 50 day moving average of $40.43 and a 200 day moving average of $31.74.

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

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.