Insider Selling: Guardant Health (NASDAQ:GH) Insider Sells $10,786,135.90 in Stock

Guardant Health, Inc. (NASDAQ:GH) insider Chris Freeman sold 63,605 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the transaction, the insider owned 65,374 shares in the company, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Chris Freeman also recently made the following trade(s):

• On Friday, May 22nd, Chris Freeman sold 24,406 shares of Guardant Health stock. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02.

Guardant Health Stock Down 3.4%

Shares of GH stock opened at $159.54 on Friday. The firm has a market cap of $21.41 billion, a P/E ratio of -45.71 and a beta of 1.60. The company has a 50 day moving average of $149.77 and a 200-day moving average of $116.59. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58.

Hedge Funds Weigh In On Guardant Health

Several institutional investors and hedge funds have recently made changes to their positions in GH. V Square Quantitative Management LLC bought a new stake in Guardant Health in the fourth quarter worth $27,000. Elyxium Wealth LLC purchased a new stake in Guardant Health during the fourth quarter valued at about $35,000. Parallel Advisors LLC grew its stake in shares of Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 219 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Guardant Health in the first quarter worth about $38,000. Finally, Hollencrest Capital Management bought a new stake in shares of Guardant Health in the 1st quarter valued at about $41,000. Institutional investors own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

GH has been the subject of several recent research reports. Barclays lifted their price objective on Guardant Health from $150.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. TD Cowen upped their price objective on shares of Guardant Health from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wolfe Research started coverage on shares of Guardant Health in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price for the company. Mizuho upped their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Morgan Stanley raised their price objective on shares of Guardant Health from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and an average price target of $183.78.

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.