Guardant Health’s (GH) “Outperform” Rating Reiterated at Wolfe Research

Guardant Health (NASDAQ:GH)‘s stock had its “outperform” rating restated by Wolfe Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $150.00 target price on the stock. Wolfe Research’s price target indicates a potential upside of 16.15% from the company’s current price.

Several other analysts have also recently weighed in on GH. Barclays boosted their price objective on shares of Guardant Health from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. BTIG Research set a $160.00 price objective on shares of Guardant Health and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Wells Fargo & Company boosted their price objective on shares of Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. TD Cowen reissued a “buy” rating on shares of Guardant Health in a research note on Thursday, May 21st. Finally, Guggenheim cut shares of Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday. Twenty analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Guardant Health presently has a consensus rating of “Moderate Buy” and an average target price of $133.74.

Guardant Health Stock Down 0.4%

Shares of Guardant Health stock opened at $129.14 on Tuesday. Guardant Health has a twelve month low of $39.69 and a twelve month high of $133.97. The stock has a market cap of $17.12 billion, a price-to-earnings ratio of -38.09 and a beta of 1.48. The company’s fifty day moving average is $95.88 and its 200 day moving average is $100.18.

Insiders Place Their Bets

In related news, insider Terilyn J. Monroe sold 3,832 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $92.68, for a total value of $355,149.76. Following the transaction, the insider owned 20,990 shares in the company, valued at $1,945,353.20. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 24,406 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the completion of the transaction, the insider owned 60,034 shares in the company, valued at approximately $7,124,234.78. The trade was a 28.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 332,244 shares of company stock valued at $36,156,026 over the last quarter. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently made changes to their positions in GH. V Square Quantitative Management LLC bought a new position in shares of Guardant Health during the 4th quarter worth about $27,000. Chesapeake Asset Management LLC bought a new position in shares of Guardant Health during the 4th quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Guardant Health during the 4th quarter worth about $31,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health during the 4th quarter worth about $35,000. Finally, Parallel Advisors LLC boosted its position in shares of Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

About Guardant Health

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.