Insider Selling: Guardant Health (NASDAQ:GH) Director Sells $204,084.96 in Stock

Guardant Health, Inc. (NASDAQ:GH) Director Myrtle Potter sold 1,556 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $204,084.96. Following the completion of the transaction, the director directly owned 20,971 shares of the company’s stock, valued at approximately $2,750,556.36. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Stock Performance

Shares of NASDAQ GH traded up $2.00 during midday trading on Tuesday, reaching $130.83. 1,931,570 shares of the company’s stock were exchanged, compared to its average volume of 2,130,785. Guardant Health, Inc. has a 52-week low of $40.35 and a 52-week high of $135.00. The stock has a market capitalization of $17.35 billion, a PE ratio of -38.59 and a beta of 1.61. The business’s fifty day moving average price is $108.07 and its two-hundred day moving average price is $103.04.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BTIG Research set a $160.00 target price on Guardant Health and gave the company a “buy” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Mizuho upped their price target on shares of Guardant Health from $135.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Barclays increased their price objective on shares of Guardant Health from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Raymond James Financial reissued an “outperform” rating and set a $129.00 price objective on shares of Guardant Health in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.95.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds have recently added to or reduced their stakes in GH. Alyeska Investment Group L.P. acquired a new stake in shares of Guardant Health during the third quarter worth $114,421,000. Price T Rowe Associates Inc. MD lifted its holdings in Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock worth $575,670,000 after acquiring an additional 1,414,441 shares during the last quarter. Norges Bank bought a new position in Guardant Health in the fourth quarter worth about $128,499,000. Summit Partners Public Asset Management LLC boosted its stake in Guardant Health by 674.5% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock valued at $87,019,000 after acquiring an additional 741,958 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Guardant Health by 26.1% in the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock valued at $182,836,000 after acquiring an additional 606,368 shares during the period. Institutional investors and hedge funds 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.