For those of you still following GH, they filed an 8-K today with a copy of an investor presentation that they plan to use at upcoming conferences.
Here is a link to the presentation:
https://www.sec.gov/Archives/edgar/data/1576280/000162828020…
Earlier today, GH also put out a press release announcing a collaboration with Amgen
https://investors.guardanthealth.com/news-releases/news-rele…
Although I haven’t owned GH since summer 2019, earlier today I did go ahead and buy back in with a small, less than 1%, position.
ZS has had a nice run since the New Year, particularly with today’s 8%+ rise. It seems today, ZS was boosted by a Needham analyst’s positive comments and $89 target target. There are also rumors on Yahoo finance boards (so probably just rumors as I couldn’t find anywhere else) that Microsoft might try to acquire Zscaler. Given that ZS isn’t one of my highest confidence holdings, I sold about one-third of my Zscaler and moved it into GH.
Why did I buy back into GH today? Although I hadn’t been following them closely since I sold last summer, I saw that Guardant’s stock price has come down almost $20 from where I sold in the mid $90’s, despite what seem to have been very good earnings reports, and I read up on how Softbank Vision Fund is GH’s largest shareholder and has been forced to nearly five million of their GH shares after suffering losses from the WeWork collapse. This selling pressure may have artificially depressed Guardant’s stock price.
The Softbank selling was probably already discussed on this board, but I missed it when I wasn’t keeping up on GH news, so here is one article incase anyone else is interested:
https://www.bloomberg.com/news/articles/2019-09-14/softbank-…
And of course, I still like the overall story and potential of their liquid biopsies and possible future TAM for cancer screenings.
This morning, if you told me I would own GH by the end of the day, I wouldn’t have believed you. But I went with my gut today and hopefully it works out.
-mekong