Guardant Health (NASDAQ:GH) Stock Price Down 4.7% – Here’s Why

by · The Cerbat Gem

Shares of Guardant Health, Inc. (NASDAQ:GH – Get Free Report) traded down 4.7% during mid-day trading on Friday . The stock traded as low as $106.39 and last traded at $103.4180. 204,699 shares were traded during trading, a decline of 92% from the average session volume of 2,456,233 shares. The stock had previously closed at $108.52.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GH. Cowen restated a “buy” rating on shares of Guardant Health in a research note on Thursday, October 30th. Stifel Nicolaus set a $73.00 price objective on Guardant Health in a research report on Thursday, September 25th. BTIG Research upped their target price on Guardant Health from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley increased their target price on Guardant Health from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Finally, Guggenheim boosted their price target on shares of Guardant Health from $56.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $80.86.

Check Out Our Latest Research Report on GH

Guardant Health Stock Down 6.0%

The firm has a 50-day moving average price of $84.67 and a two-hundred day moving average price of $63.25. The firm has a market cap of $12.86 billion, a PE ratio of -31.78 and a beta of 1.58.

Guardant Health (NASDAQ:GH – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.09. During the same period last year, the company earned ($0.88) earnings per share. The business’s quarterly revenue was up 38.5% on a year-over-year basis. Research analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, insider Terilyn J. Monroe sold 55,167 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $105.97, for a total value of $5,846,046.99. Following the completion of the sale, the insider owned 20,920 shares in the company, valued at approximately $2,216,892.40. This represents a 72.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Saia sold 8,996 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $96.25, for a total value of $865,865.00. Following the transaction, the insider owned 43,172 shares in the company, valued at approximately $4,155,305. This represents a 17.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 368,228 shares of company stock valued at $24,835,525. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in Guardant Health by 19.5% during the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Guardant Health during the 3rd quarter worth $327,000. CIBC Bancorp USA Inc. acquired a new position in shares of Guardant Health during the 3rd quarter valued at about $796,000. Danske Bank A S purchased a new stake in shares of Guardant Health in the third quarter valued at about $62,000. Finally, Castleark Management LLC grew its holdings in shares of Guardant Health by 31.7% in the third quarter. Castleark Management LLC now owns 160,073 shares of the company’s stock valued at $10,001,000 after purchasing an additional 38,513 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

(Get Free Report)

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.

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