Guardant Health (GH) Fell on Eclipse Trial Release

Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Aristotle Atlantic’s Focus Growth strategy posted a return of 2.66% net of fees compared to a 2.20% return for the Russell 1000 Growth Index. Stock selection and allocation led the strategy to outperform in the quarter relative to its benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Atlantic Focus Growth Strategy highlighted stocks like Guardant Health, Inc. (NASDAQ:GH) in its Q4 2022 investor letter. Headquartered in Palo Alto, California, Guardant Health, Inc. (NASDAQ:GH) is a precision oncology company. On April 5, 2023, Guardant Health, Inc. (NASDAQ:GH) stock closed at $23.60 per share. One-month return of Guardant Health, Inc. (NASDAQ:GH) was -18.28%, and its shares lost 67.27% of their value over the last 52 weeks. Guardant Health, Inc. (NASDAQ:GH) has a market capitalization of $2.423 billion.

Aristotle Atlantic Focus Growth Strategy made the following comment about Guardant Health, Inc. (NASDAQ:GH) in its Q4 2022 investor letter:

“Guardant Health, Inc. (NASDAQ:GH) shares were weak following the release of the pivotal Eclipse trial in over 20,000 patients to evaluate performance of its blood-based test, Shield, for detecting colorectal cancer (CRC) in average-risk adults. Sensitivity was 83%, marginally below investor expectations of 85%. Detection of advanced adenomas (AA) came in at 13% which was lower than the 20% update that took the stock down previously. We believe, as does the company, that the results are sufficient to gain FDA approval for the minimally invasive blood screening test and to capture a meaningful share of the 49 million average-risk adults who are recommended for screening and yet are still not screened.”

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Guardant Health, Inc. (NASDAQ:GH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Guardant Health, Inc. (NASDAQ:GH) at the end of the fourth quarter which was 33 in the previous quarter.

We discussed Guardant Health, Inc. (NASDAQ:GH) in another article and shared the list of most promising cancer stocks according to analysts. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.