Point72 Asia Singapore Pte. Ltd. Acquires New Shares in Guardant Health, Inc. (NASDAQ:GH)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Guardant Health, Inc. (NASDAQ:GH) during the second quarter, HoldingsChannel.com reports. The firm bought 2,464 shares of the company’s stock, valued at approximately $71,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GH. Quarry LP bought a new stake in Guardant Health in the second quarter valued at approximately $44,000. Manchester Capital Management LLC bought a new stake in shares of Guardant Health in the first quarter worth about $57,000. Canton Hathaway LLC acquired a new stake in shares of Guardant Health during the second quarter worth about $59,000. EntryPoint Capital LLC acquired a new stake in Guardant Health during the 1st quarter worth approximately $75,000. Finally, Byrne Asset Management LLC bought a new position in Guardant Health in the second quarter valued at approximately $77,000. Institutional investors own 92.60% of the company’s stock.

Guardant Health Stock Performance

NASDAQ GH opened at $22.16 on Friday. Guardant Health, Inc. has a 52-week low of $15.81 and a 52-week high of $37.04. The stock has a market cap of $2.71 billion, a PE ratio of -5.65 and a beta of 1.11. The firm has a 50-day moving average of $26.92 and a 200-day moving average of $25.28. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup upped their price objective on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. 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. Finally, Bank of America lifted their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.67.

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.