Helmy Eltoukhy Sells 100,000 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health stock in a transaction on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the completion of the transaction, the chief executive officer owned 2,012,919 shares of the company’s stock, valued at approximately $254,231,669.70. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Guardant Health Stock Up 4.2%

Shares of NASDAQ GH opened at $130.12 on Wednesday. The firm has a market capitalization of $17.25 billion, a P/E ratio of -38.38 and a beta of 1.61. The stock’s 50-day simple moving average is $101.04 and its two-hundred day simple moving average is $101.54. Guardant Health, Inc. has a twelve month low of $40.35 and a twelve month high of $134.28.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Guardant Health in the 4th quarter worth approximately $27,000. Chesapeake Asset Management LLC bought a new position in shares of Guardant Health in the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Guardant Health in the 4th quarter worth approximately $31,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health in the 4th quarter worth approximately $35,000. Finally, Parallel Advisors LLC raised its position in shares of Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 219 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Guggenheim cut Guardant Health from a “buy” rating to a “buy” rating in a report on Thursday, May 28th. Raymond James Financial restated an “outperform” rating and set a $129.00 target price on shares of Guardant Health in a report on Monday, February 23rd. Robert W. Baird began coverage on Guardant Health in a report on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 price objective for the company. Piper Sandler set a $127.00 price objective on Guardant Health in a report on Thursday, May 21st. Finally, Barclays increased their target price on Guardant Health from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.80.

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.