Guardant Health (NASDAQ:GH) Price Target Raised to $190.00

Guardant Health (NASDAQ:GH) had its target price increased by Guggenheim from $160.00 to $190.00 in a report issued on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. Royal Bank Of Canada started coverage on Guardant Health in a research note on Thursday, June 11th. They issued an “outperform” rating and a $185.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. Canaccord Genuity Group boosted their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. UBS Group set a $150.00 target price on Guardant Health in a report on Wednesday, June 24th. Finally, Barclays lifted their target price on Guardant Health from $120.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.04.

Guardant Health Stock Up 0.6%

Shares of NASDAQ GH opened at $155.87 on Thursday. The firm has a market cap of $20.67 billion, a PE ratio of -45.98 and a beta of 1.59. Guardant Health has a 12-month low of $40.35 and a 12-month high of $174.08. The company’s fifty day simple moving average is $134.21 and its 200 day simple moving average is $110.26.

Insider Buying and Selling at Guardant Health

In other news, insider John G. Saia sold 20,000 shares of Guardant Health stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $106.51, for a total value of $2,130,200.00. Following the completion of the transaction, the insider owned 45,950 shares in the company, valued at $4,894,134.50. This trade represents a 30.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Also, insider Chris Freeman sold 24,406 shares of Guardant Health stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the completion of the transaction, the insider owned 60,034 shares of the company’s stock, valued at $7,124,234.78. This represents a 28.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 708,565 shares of company stock valued at $90,556,597 in the last quarter. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors purchased a new position in shares of Guardant Health in the 4th quarter worth about $1,664,000. Capricorn Fund Managers Ltd lifted its position in Guardant Health by 197.8% in the 4th quarter. Capricorn Fund Managers Ltd now owns 107,787 shares of the company’s stock worth $11,009,000 after buying an additional 71,587 shares during the last quarter. F m Investments LLC lifted its position in Guardant Health by 24.1% in the 4th quarter. F m Investments LLC now owns 58,567 shares of the company’s stock worth $5,982,000 after buying an additional 11,363 shares during the last quarter. Legato Capital Management LLC boosted its stake in Guardant Health by 140.7% in the fourth quarter. Legato Capital Management LLC now owns 26,076 shares of the company’s stock worth $2,663,000 after buying an additional 15,241 shares in the last quarter. Finally, Erste Asset Management GmbH grew its position in Guardant Health by 48.3% during the fourth quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company’s stock valued at $106,781,000 after acquiring an additional 340,700 shares during the last quarter. Hedge funds and other 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.