Bank of America Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its price target hoisted by Bank of America from $135.00 to $190.00 in a report released on Monday, MarketBeat reports. Bank of America currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on GH. Royal Bank Of Canada initiated coverage on Guardant Health in a report on Thursday, June 11th. They set an “outperform” rating and a $185.00 price objective on the stock. BTIG Research upped their price target on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. TD Cowen reissued a “buy” rating on shares of Guardant Health in a report on Thursday. UBS Group set a $150.00 price objective on shares of Guardant Health in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.91.

Guardant Health Price Performance

Guardant Health stock opened at $167.52 on Monday. The firm has a market capitalization of $22.21 billion, a P/E ratio of -49.29 and a beta of 1.59. Guardant Health has a one year low of $40.35 and a one year high of $174.08. The business has a fifty day moving average price of $121.51 and a 200-day moving average price of $106.61.

Insider Activity

In other news, CFO Michael Brian Bell sold 2,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $128.62, for a total transaction of $257,240.00. Following the completion of the transaction, the chief financial officer owned 47,509 shares of the company’s stock, valued at approximately $6,110,607.58. The trade was a 4.04% 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. Also, CEO Helmy Eltoukhy sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the sale, the chief executive officer directly owned 2,012,919 shares in the company, valued at $254,231,669.70. This represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 708,681 shares of company stock worth $90,566,438. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Guardant Health

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its position in Guardant Health by 19.5% during the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock valued at $53,000 after purchasing an additional 138 shares in the last quarter. Eastern Bank raised its position in Guardant Health by 6.9% in the 4th quarter. Eastern Bank now owns 2,160 shares of the company’s stock worth $221,000 after purchasing an additional 139 shares during the period. First Pacific Financial lifted its stake 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 purchasing an additional 139 shares during the last quarter. Xponance LLC boosted its position in Guardant Health by 2.1% during the fourth quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after buying an additional 199 shares during the period. Finally, Danske Bank A S grew its stake in shares of Guardant Health by 20.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the company’s stock valued at $123,000 after buying an additional 200 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

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.