Insider Selling: Guardant Health (NASDAQ:GH) CTO Sells 7,738 Shares

Guardant Health, Inc. (NASDAQ:GH) CTO Darya Chudova sold 7,738 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $178.00, for a total value of $1,377,364.00. Following the sale, the chief technology officer owned 70,635 shares in the company, valued at approximately $12,573,030. The trade was a 9.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Guardant Health Stock Performance

Shares of GH stock traded up $8.20 during trading hours on Thursday, hitting $183.10. 1,858,277 shares of the company were exchanged, compared to its average volume of 2,252,181. The company has a 50 day simple moving average of $160.33 and a two-hundred day simple moving average of $126.47. The firm has a market cap of $24.57 billion, a P/E ratio of -52.46 and a beta of 1.57. Guardant Health, Inc. has a fifty-two week low of $55.38 and a fifty-two week high of $183.51.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. During the same period in the prior year, the company earned ($0.44) earnings per share. The firm’s revenue was up 44.3% compared to the same quarter last year. As a group, sell-side analysts expect that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its stake in shares of Guardant Health by 12.4% during the 2nd quarter. Allworth Financial LP now owns 1,072 shares of the company’s stock worth $161,000 after purchasing an additional 118 shares during the period. GAMMA Investing LLC increased its holdings in Guardant Health by 14.5% during the second quarter. GAMMA Investing LLC now owns 965 shares of the company’s stock worth $145,000 after buying an additional 122 shares during the last quarter. First Pacific Financial raised its position in Guardant Health by 33.1% in the first quarter. First Pacific Financial now owns 559 shares of the company’s stock worth $52,000 after acquiring an additional 139 shares during the period. ABS Investment Management LLC bought a new position in shares of Guardant Health during the 2nd quarter valued at approximately $345,069,000. Finally, MCF Advisors LLC grew its position in shares of Guardant Health by 755.0% during the 2nd quarter. MCF Advisors LLC now owns 171 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the period. 92.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on GH shares. Bank of America boosted their price objective on Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 6th. BTIG Research reissued a “buy” rating and issued a $195.00 price target on shares of Guardant Health in a research report on Wednesday, September 2nd. Wolfe Research started coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price target for the company. Morgan Stanley upped their price objective on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.12.

About Guardant Health

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.

The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.