Point72 Asia Singapore Pte. Ltd. Makes New $71,000 Investment in Guardant Health, Inc. (NASDAQ:GH)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Guardant Health, Inc. (NASDAQ:GH) in the second quarter, Holdings Channel reports. The fund acquired 2,464 shares of the company’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GH. Capital International Investors boosted its stake in shares of Guardant Health by 36.7% in the fourth quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after buying an additional 1,074,452 shares during the period. Norges Bank bought a new stake in shares of Guardant Health during the 4th quarter valued at $25,520,000. Cadian Capital Management LP acquired a new stake in shares of Guardant Health during the 4th quarter worth $19,206,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Guardant Health during the 1st quarter worth $8,300,000. Finally, Bank of New York Mellon Corp increased its position in shares of Guardant Health by 31.8% in the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock worth $36,973,000 after purchasing an additional 309,157 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Stock Performance

Shares of GH stock opened at $22.88 on Monday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -5.84 and a beta of 1.11. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. The business’s 50-day moving average price is $27.92 and its 200-day moving average price is $25.23. Guardant Health, Inc. has a 12 month low of $15.81 and a 12 month high of $37.04.

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). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The business had revenue of $177.24 million for the quarter, compared to analyst estimates of $162.59 million. During the same quarter in the prior year, the business earned ($0.67) earnings per share. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. Equities research analysts forecast that Guardant Health, Inc. will post -3.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. TD Cowen increased their price target on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler lifted their price objective on shares of Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. UBS Group upped their target price on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group initiated coverage on Guardant Health in a research note on Monday, June 3rd. They issued a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

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.