Insider Selling: Guardant Health (NASDAQ:GH) CEO Sells 100,000 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) CEO Amirali Talasaz sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $105.05, for a total value of $10,505,000.00. Following the sale, the chief executive officer directly owned 168,223 shares in the company, valued at approximately $17,671,826.15. This represents a 37.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Guardant Health Stock Performance

Shares of NASDAQ GH traded down $0.59 during midday trading on Wednesday, hitting $102.62. The company’s stock had a trading volume of 1,913,708 shares, compared to its average volume of 2,231,505. Guardant Health, Inc. has a 1-year low of $29.91 and a 1-year high of $112.43. The firm’s fifty day moving average price is $87.13 and its 200-day moving average price is $64.63. The firm has a market cap of $12.93 billion, a P/E ratio of -31.97 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. The company’s revenue was up 38.5% compared to the same quarter last year. During the same period last year, the business posted ($0.88) EPS. As a group, research analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock valued at $53,000 after buying an additional 138 shares during the period. Swiss Life Asset Management Ltd purchased a new stake in shares of Guardant Health during the third quarter worth $327,000. CIBC Bancorp USA Inc. acquired a new stake in Guardant Health during the third quarter valued at $796,000. Danske Bank A S purchased a new position in Guardant Health in the third quarter valued at about $62,000. Finally, Castleark Management LLC grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Thursday, October 30th. Mizuho set a $100.00 target price on shares of Guardant Health in a report on Thursday, October 30th. Stifel Nicolaus set a $73.00 target price on shares of Guardant Health in a report on Thursday, September 25th. Finally, Evercore ISI lifted their price target on shares of Guardant Health from $68.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Twenty-three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.86.

About Guardant Health

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.