Meghan Joyce Sells 10,000 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) Director Meghan Joyce sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $126.98, for a total transaction of $1,269,800.00. Following the completion of the sale, the director directly owned 11,183 shares in the company, valued at approximately $1,420,017.34. The trade was a 47.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Trading Up 4.7%

NASDAQ GH traded up $6.03 on Thursday, reaching $133.06. The company’s stock had a trading volume of 2,014,204 shares, compared to its average volume of 2,128,095. The firm has a market cap of $17.64 billion, a PE ratio of -39.25 and a beta of 1.61. The business has a 50-day moving average price of $97.62 and a 200 day moving average price of $100.64. Guardant Health, Inc. has a 52 week low of $40.35 and a 52 week high of $134.28.

Hedge Funds Weigh In On Guardant Health

A number of large investors have recently modified their holdings of the stock. Perceptive Advisors LLC lifted its position in shares of Guardant Health by 87.5% during the first quarter. Perceptive Advisors LLC now owns 300,000 shares of the company’s stock worth $27,711,000 after purchasing an additional 140,000 shares in the last quarter. BankChampaign National Association acquired a new position in shares of Guardant Health during the first quarter worth approximately $809,000. Western Wealth Management LLC acquired a new position in shares of Guardant Health during the first quarter worth approximately $125,000. Hamilton Wealth LLC lifted its position in shares of Guardant Health by 103.0% during the first quarter. Hamilton Wealth LLC now owns 76,700 shares of the company’s stock worth $7,085,000 after purchasing an additional 38,916 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its position in shares of Guardant Health by 321.6% during the first quarter. Edgestream Partners L.P. now owns 32,257 shares of the company’s stock worth $2,980,000 after purchasing an additional 24,606 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GH has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $129.00 price objective on shares of Guardant Health in a research note on Monday, February 23rd. Barclays upped their price objective on shares of Guardant Health from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Citigroup upped their price objective on shares of Guardant Health from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, BTIG Research set a $160.00 price objective on shares of Guardant Health and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average target price of $136.37.

About Guardant Health

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.