Guardant Health (NASDAQ:GH) Insider Sells $1,250,800.00 in Stock

Guardant Health, Inc. (NASDAQ:GH) insider John Saia sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $125.08, for a total value of $1,250,800.00. Following the sale, the insider owned 35,950 shares in the company, valued at $4,496,626. The trade was a 21.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Stock Down 2.6%

NASDAQ GH opened at $129.69 on Friday. The stock’s 50-day simple moving average is $95.08 and its two-hundred day simple moving average is $99.94. Guardant Health, Inc. has a twelve month low of $38.03 and a twelve month high of $133.97. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of -38.26 and a beta of 1.48.

Analysts Set New Price Targets

A number of research firms have weighed in on GH. Citigroup raised their price target on Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Piper Sandler set a $127.00 price objective on Guardant Health in a research note on Thursday, May 21st. Wells Fargo & Company raised their price objective on Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. TD Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Thursday, May 21st. Finally, Guggenheim cut Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday. Nineteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in Guardant Health in the 4th quarter worth approximately $27,000. Chesapeake Asset Management LLC purchased a new position in shares of Guardant Health during the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Guardant Health during the fourth quarter valued at approximately $31,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health during the fourth quarter valued at approximately $35,000. Finally, Parallel Advisors LLC raised its holdings in shares of Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 219 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Company Profile

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.