Insider Selling: Guardant Health, Inc. (NASDAQ:GH) Director Sells 2,320 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) 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 value of $81,200.00. Following the completion of the sale, the director now directly owns 2,676 shares in the company, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Guardant Health Stock Performance

Shares of GH stock traded up $0.86 on Monday, reaching $35.62. The stock had a trading volume of 1,839,591 shares, compared to its average volume of 2,038,397. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $38.53. The stock has a market cap of $4.40 billion, a P/E ratio of -8.40 and a beta of 1.26. The company has a 50 day simple moving average of $27.92 and a 200 day simple moving average of $28.16.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The firm had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.73) earnings per share. Equities research analysts expect that Guardant Health, Inc. will post -3.44 EPS for the current year.

Institutional Trading of Guardant Health

Several large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC grew its holdings in Guardant Health by 54.6% during the third quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock valued at $4,473,000 after purchasing an additional 68,883 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Guardant Health during the 3rd quarter valued at about $15,624,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Guardant Health by 1,282.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock valued at $28,128,000 after acquiring an additional 1,137,482 shares during the period. First Light Asset Management LLC grew its stake in shares of Guardant Health by 119.7% during the 2nd quarter. First Light Asset Management LLC now owns 416,967 shares of the company’s stock valued at $12,042,000 after acquiring an additional 227,202 shares during the period. Finally, Pier Capital LLC increased its holdings in Guardant Health by 36.7% in the 3rd quarter. Pier Capital LLC now owns 158,429 shares of the company’s stock worth $3,634,000 after acquiring an additional 42,575 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Leerink Partners decreased 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. Sanford C. Bernstein dropped their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. UBS Group raised their price objective on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Fifteen 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.

About Guardant Health

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.