Guardant Health, Inc. (NASDAQ:GH) Receives $155.70 Average Price Target from Analysts

Guardant Health, Inc. (NASDAQ:GH) has been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $160.0435.

Several research analysts have recently commented on GH shares. Bank of America lifted their price target on Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Guggenheim upped their price objective on shares of Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Barclays raised their price objective on shares of Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. Finally, Morgan Stanley boosted their target price on shares of Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 9th.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Myrtle S. Potter sold 1,556 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total transaction of $204,084.96. Following the completion of the sale, the director owned 20,971 shares of the company’s stock, valued at $2,750,556.36. This trade represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $128.62, for a total value of $257,240.00. Following the sale, the chief financial officer directly owned 47,509 shares of the company’s stock, valued at approximately $6,110,607.58. This trade represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 708,565 shares of company stock worth $90,556,597. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock valued at $3,012,000 after buying an additional 25,831 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Guardant Health during the first quarter valued at about $274,000. Sei Investments Co. increased its position in shares of Guardant Health by 15.8% during the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Guardant Health by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after acquiring an additional 54,284 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Guardant Health by 56.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock valued at $5,800,000 after acquiring an additional 40,209 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Stock Performance

NASDAQ GH opened at $155.87 on Tuesday. The stock’s fifty day moving average is $134.21 and its two-hundred day moving average is $110.26. The firm has a market capitalization of $20.67 billion, a P/E ratio of -45.98 and a beta of 1.59. Guardant Health has a fifty-two week low of $40.35 and a fifty-two week high of $174.08.

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.