JPMorgan Chase & Co. Has $4.58 Million Stock Holdings in Guardant Health, Inc. (NASDAQ:GH)

JPMorgan Chase & Co. trimmed its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 77.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 199,544 shares of the company’s stock after selling 672,841 shares during the quarter. JPMorgan Chase & Co. owned 0.16% of Guardant Health worth $4,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GH. Lord Abbett & CO. LLC acquired a new stake in shares of Guardant Health in the 3rd quarter valued at $15,624,000. Exome Asset Management LLC increased its position in shares of Guardant Health by 13.7% during the 3rd quarter. Exome Asset Management LLC now owns 89,800 shares of the company’s stock worth $2,060,000 after purchasing an additional 10,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Guardant Health by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after purchasing an additional 29,686 shares during the last quarter. Pier Capital LLC boosted its position in Guardant Health by 36.7% in the third quarter. Pier Capital LLC now owns 158,429 shares of the company’s stock valued at $3,634,000 after buying an additional 42,575 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Guardant Health by 188.6% during the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after buying an additional 6,618,785 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health 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 sale, the director now directly owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Musa Tariq sold 2,320 shares of the 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 transaction, the director now owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,432 shares of company stock worth $175,423 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Guardant Health Price Performance

Shares of Guardant Health stock opened at $36.66 on Friday. The company has a market capitalization of $4.53 billion, a P/E ratio of -8.65 and a beta of 1.28. The business has a 50-day moving average of $33.76 and a two-hundred day moving average of $28.95. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $39.29.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $191.48 million for the quarter, compared to the consensus estimate of $170.49 million. During the same period in the previous year, the company posted ($0.73) earnings per share. Guardant Health’s revenue for the quarter was up 33.9% compared to the same quarter last year. On average, equities analysts anticipate that Guardant Health, Inc. will post -3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Leerink Partners dropped their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. The Goldman Sachs Group raised their target price on Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein lowered 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 report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.60.

Guardant Health 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.