Ian Clark Sells 28,611 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) Director Ian Clark sold 28,611 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $107.19, for a total transaction of $3,066,813.09. Following the sale, the director directly owned 9,851 shares of the company’s stock, valued at $1,055,928.69. This trade represents a 74.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Guardant Health Trading Up 2.1%

GH stock traded up $2.15 during midday trading on Monday, hitting $104.17. The company’s stock had a trading volume of 1,867,755 shares, compared to its average volume of 2,302,517. The firm’s 50-day moving average is $85.51 and its 200-day moving average is $63.90. Guardant Health, Inc. has a 12 month low of $29.91 and a 12 month high of $112.43. The company has a market cap of $13.13 billion, a PE ratio of -32.45 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. During the same period in the prior year, the business posted ($0.88) earnings per share. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. Analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC purchased a new stake in shares of Guardant Health in the 1st quarter worth $82,349,000. Alyeska Investment Group L.P. purchased a new position in shares of Guardant Health during the 3rd quarter valued at $114,421,000. ARK Investment Management LLC boosted its holdings in Guardant Health by 100.4% in the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock worth $146,935,000 after buying an additional 1,414,381 shares during the period. Invesco Ltd. increased its stake in Guardant Health by 100.9% in the 1st quarter. Invesco Ltd. now owns 2,794,667 shares of the company’s stock worth $119,053,000 after buying an additional 1,403,670 shares in the last quarter. Finally, Norges Bank bought a new stake in Guardant Health during the second quarter valued at about $64,136,000. 92.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GH shares. Evercore ISI boosted their target price on Guardant Health from $68.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. TD Cowen lifted their price target on shares of Guardant Health from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. UBS Group increased their price objective on shares of Guardant Health from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Wolfe Research upgraded shares of Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Thursday, September 25th. Finally, Morgan Stanley boosted their target price on shares of Guardant Health from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.86.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.