Point72 Hong Kong Ltd Invests $807,000 in Guardant Health, Inc. (NASDAQ:GH)

Point72 Hong Kong Ltd acquired a new stake in shares of Guardant Health, Inc. (NASDAQ:GH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,934 shares of the company’s stock, valued at approximately $807,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GH. Manchester Capital Management LLC purchased a new stake in shares of Guardant Health during the 1st quarter valued at about $57,000. Canton Hathaway LLC bought a new stake in Guardant Health during the second quarter valued at approximately $59,000. EntryPoint Capital LLC bought a new stake in Guardant Health during the first quarter valued at approximately $75,000. Byrne Asset Management LLC purchased a new stake in Guardant Health during the second quarter valued at approximately $77,000. Finally, Fullcircle Wealth LLC bought a new position in Guardant Health in the second quarter worth approximately $211,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

NASDAQ GH opened at $22.73 on Friday. The stock has a market capitalization of $2.80 billion, a PE ratio of -5.80 and a beta of 1.11. Guardant Health, Inc. has a 1-year low of $15.81 and a 1-year high of $37.04. The business has a 50 day simple moving average of $28.08 and a two-hundred day simple moving average of $25.11. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The business had revenue of $177.24 million during the quarter, compared to analysts’ expectations of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the business posted ($0.67) earnings per share. On average, research analysts predict that Guardant Health, Inc. will post -3.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upped their price objective on Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Craig Hallum upped their price target on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Citigroup increased their target price on shares of Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Guggenheim raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.31.

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.