Guardant Health (GH) Shares Gap Down on Insider Selling

Guardant Health Inc (NASDAQ:GH) gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $71.22, but opened at $72.71. Guardant Health shares last traded at $69.92, with a volume of 18935 shares.

Specifically, major shareholder Vision Fund (Aiv M1) Softbank bought 2,033,990 shares of the stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $9.83 per share, for a total transaction of $19,994,121.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ian T. Clark sold 81,772 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $73.90, for a total value of $6,042,950.80. The disclosure for this sale can be found here.

A number of research firms have recently commented on GH. Cowen raised their target price on Guardant Health from $40.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. raised their target price on Guardant Health from $42.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Canaccord Genuity began coverage on Guardant Health in a research note on Tuesday. They issued a “buy” rating and a $90.00 target price for the company. Zacks Investment Research cut Guardant Health from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Finally, William Blair restated an “outperform” rating on shares of Guardant Health in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $82.25.

The company has a market cap of $6.25 billion and a PE ratio of -25.18.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.05. The company had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $24.57 million. On average, equities analysts anticipate that Guardant Health Inc will post -1.5 earnings per share for the current year.

A number of large investors have recently made changes to their positions in GH. Benjamin F. Edwards & Company Inc. purchased a new position in Guardant Health during the fourth quarter valued at $26,000. Legal & General Group Plc purchased a new position in shares of Guardant Health in the fourth quarter worth $85,000. Citigroup Inc. purchased a new position in shares of Guardant Health in the fourth quarter worth $94,000. Victory Capital Management Inc. purchased a new position in shares of Guardant Health in the fourth quarter worth $124,000. Finally, Pendal Group Ltd purchased a new position in shares of Guardant Health in the fourth quarter worth $213,000. Institutional investors and hedge funds own 69.45% of the company’s stock.

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About Guardant Health (NASDAQ:GH)

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.

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