Guardant Health (NASDAQ:GH) Sets New 1-Year High – Here’s Why

Guardant Health, Inc. (NASDAQ:GHGet Free Report) reached a new 52-week high on Tuesday . The company traded as high as $113.91 and last traded at $107.57, with a volume of 2356343 shares changing hands. The stock had previously closed at $110.17.

Guardant Health News Summary

Here are the key news stories impacting Guardant Health this week:

Analysts Set New Price Targets

Several brokerages have weighed in on GH. BTIG Research boosted their price objective on Guardant Health from $100.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 7th. Guggenheim increased their price target on shares of Guardant Health from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Morgan Stanley raised their price target on shares of Guardant Health from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Wednesday, October 8th. Twenty-two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Read Our Latest Report on Guardant Health

Guardant Health Stock Down 2.4%

The company’s fifty day simple moving average is $102.32 and its 200 day simple moving average is $73.89. The firm has a market capitalization of $13.56 billion, a PE ratio of -33.51 and a beta of 1.58.

Guardant Health (NASDAQ:GHGet Free Report) last posted its earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. During the same period in the previous year, the company posted ($0.88) EPS. The company’s quarterly revenue was up 38.5% on a year-over-year basis. Equities research analysts forecast that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insider Buying and Selling at Guardant Health

In other news, insider Chris Freeman sold 31,452 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $103.07, for a total transaction of $3,241,757.64. Following the sale, the insider owned 25,987 shares in the company, valued at approximately $2,678,480.09. The trade was a 54.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Helmy Eltoukhy sold 90,565 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $103.82, for a total transaction of $9,402,458.30. Following the completion of the transaction, the chief executive officer owned 2,047,143 shares of the company’s stock, valued at approximately $212,534,386.26. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 436,694 shares of company stock valued at $45,632,343. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Guardant Health

A number of hedge funds have recently made changes to their positions in GH. Alyeska Investment Group L.P. purchased a new stake in shares of Guardant Health in the 3rd quarter worth approximately $114,421,000. ARK Investment Management LLC boosted its holdings in Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock worth $146,935,000 after acquiring an additional 1,414,381 shares in the last quarter. Norges Bank purchased a new stake in shares of Guardant Health in the second quarter worth $64,136,000. Franklin Resources Inc. increased its holdings in shares of Guardant Health by 78.2% during the second quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock valued at $120,730,000 after acquiring an additional 1,018,144 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Guardant Health by 27.3% in the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after purchasing an additional 763,834 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

About Guardant Health

(Get Free Report)

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.

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