Guardant Health (NASDAQ:GH) Trading Down 5.2% – Here’s What Happened

Guardant Health, Inc. (NASDAQ:GH) dropped 5.2% on Monday . The stock traded as low as $42.58 and last traded at $42.14. Approximately 202,277 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,456,948 shares. The stock had previously closed at $44.47.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GH. Barclays started coverage on shares of Guardant Health in a report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price target for the company. Leerink Partners reduced their target price on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein reduced their price objective on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on Guardant Health from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Sixteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $42.63.

Guardant Health Stock Down 1.8 %

The company’s 50 day moving average price is $38.45 and its 200-day moving average price is $30.81.

Insider Buying and Selling

In other news, Director Musa Tariq sold 2,320 shares of the company’s 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 completion of the sale, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. This represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 2,652 shares of company stock worth $93,192. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently bought and sold shares of GH. JNBA Financial Advisors acquired a new stake in shares of Guardant Health in the third quarter worth $26,000. R Squared Ltd acquired a new stake in Guardant Health during the 4th quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in Guardant Health during the 3rd quarter valued at about $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Guardant Health in the fourth quarter worth approximately $43,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Guardant Health during the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.