Insider Selling: Guardant Health (NASDAQ:GH) Director Sells 9,294 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Steve Krognes sold 9,294 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $132.51, for a total value of $1,231,547.94. Following the sale, the director directly owned 10,222 shares of the company’s stock, valued at $1,354,517.22. This represents a 47.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Guardant Health Trading Down 5.6%

NASDAQ GH traded down $7.45 during trading hours on Friday, hitting $125.61. 3,345,429 shares of the company’s stock were exchanged, compared to its average volume of 2,399,077. The stock has a 50-day simple moving average of $99.39 and a 200 day simple moving average of $101.08. Guardant Health, Inc. has a 1-year low of $40.35 and a 1-year high of $134.28. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of -37.05 and a beta of 1.61.

Analyst Ratings Changes

A number of equities research analysts have commented on GH shares. Robert W. Baird started coverage on Guardant Health in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 price objective for the company. Stifel Nicolaus raised their price objective on Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Leerink Partners raised their price objective on Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Wells Fargo & Company raised their price objective on Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, Guggenheim cut Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GH. Erste Asset Management GmbH lifted its holdings in Guardant Health by 10.4% during the third quarter. Erste Asset Management GmbH now owns 705,217 shares of the company’s stock worth $43,716,000 after acquiring an additional 66,617 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in Guardant Health by 57.8% during the third quarter. Segall Bryant & Hamill LLC now owns 305,147 shares of the company’s stock worth $19,066,000 after acquiring an additional 111,822 shares during the period. TD Asset Management Inc lifted its holdings in Guardant Health by 16.1% during the third quarter. TD Asset Management Inc now owns 188,810 shares of the company’s stock worth $11,797,000 after acquiring an additional 26,210 shares during the period. GSA Capital Partners LLP lifted its holdings in Guardant Health by 155.5% during the third quarter. GSA Capital Partners LLP now owns 21,982 shares of the company’s stock worth $1,373,000 after acquiring an additional 13,378 shares during the period. Finally, World Investment Advisors bought a new stake in Guardant Health during the fourth quarter worth $1,664,000. Institutional investors own 92.60% of the company’s stock.

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.