Pier Capital LLC Acquires 42,575 Shares of Guardant Health, Inc. (NASDAQ:GH)

Pier Capital LLC lifted its stake in Guardant Health, Inc. (NASDAQ:GH) by 36.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 158,429 shares of the company’s stock after buying an additional 42,575 shares during the quarter. Pier Capital LLC’s holdings in Guardant Health were worth $3,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JNBA Financial Advisors bought a new position in Guardant Health during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Guardant Health during the third quarter worth about $34,000. Quarry LP acquired a new position in Guardant Health during the 2nd quarter worth approximately $44,000. Canton Hathaway LLC bought a new position in Guardant Health in the second quarter valued at $59,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Guardant Health in the 2nd quarter valued at about $71,000. 92.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price 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. Sanford C. Bernstein dropped their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Piper Sandler upped their target price on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. UBS Group raised their price objective on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Leerink Partners decreased their target price 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 investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Insider Activity

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the transaction, the director now owns 7,648 shares of the company’s stock, valued at $228,675.20. This trade represents a 27.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.50% of the company’s stock.

Guardant Health Price Performance

Shares of GH opened at $36.87 on Friday. Guardant Health, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $38.53. The company has a market capitalization of $4.56 billion, a P/E ratio of -8.70 and a beta of 1.26. The business’s 50-day moving average is $26.60 and its two-hundred day moving average is $27.76. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22.

Guardant Health (NASDAQ:GH) last issued its quarterly 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). Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The company had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. During the same period in the previous year, the firm posted ($0.73) EPS. Guardant Health’s revenue was up 33.9% compared to the same quarter last year. Research analysts predict that Guardant Health, Inc. will post -3.44 earnings per share for the current year.

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.