Insider Selling: Guardant Health (NASDAQ:GH) Director Sells 348 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Musa Tariq sold 348 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $88.09, for a total transaction of $30,655.32. Following the sale, the director owned 8,394 shares of the company’s stock, valued at approximately $739,427.46. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Guardant Health Trading Up 2.1%

GH traded up $1.81 on Thursday, hitting $89.08. The company had a trading volume of 1,228,613 shares, compared to its average volume of 2,012,589. The company’s fifty day moving average price is $102.70 and its 200 day moving average price is $90.31. Guardant Health, Inc. has a 1 year low of $36.36 and a 1 year high of $120.74. The firm has a market cap of $11.68 billion, a P/E ratio of -26.91 and a beta of 1.67.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The firm had revenue of $281.27 million during the quarter, compared to analyst estimates of $269.74 million. During the same period in the prior year, the company posted ($0.62) EPS. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, analysts predict that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Institutional Trading of Guardant Health

A number of hedge funds have recently added to or reduced their stakes in GH. V Square Quantitative Management LLC acquired a new stake in shares of Guardant Health in the fourth quarter worth approximately $27,000. Chesapeake Asset Management LLC acquired a new position in Guardant Health during the fourth quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Guardant Health during the fourth quarter worth approximately $31,000. Elyxium Wealth LLC purchased a new position in Guardant Health during the fourth quarter worth approximately $35,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 219 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GH shares. Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a report on Thursday, January 22nd. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 20th. UBS Group reissued a “buy” rating and issued a $175.00 target price on shares of Guardant Health in a report on Friday, January 30th. Leerink Partners lifted their target price on Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, Stifel Nicolaus raised their target price on Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 20th. Twenty-one analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and an average target price of $122.57.

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.