Guardant Health (NASDAQ:GH) Reaches New 52-Week High – Should You Buy?

Guardant Health, Inc. (NASDAQ:GH)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $152.19 and last traded at $149.6370, with a volume of 4450 shares changing hands. The stock had previously closed at $149.22.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GH shares. Evercore upgraded Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 target price for the company in a research report on Tuesday, June 2nd. The Goldman Sachs Group assumed coverage on Guardant Health in a report on Friday, June 5th. They issued a “buy” rating and a $165.00 price target on the stock. TD Cowen restated a “buy” rating on shares of Guardant Health in a research note on Thursday, May 21st. Barclays increased their price objective on shares of Guardant Health from $120.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Finally, Sanford C. Bernstein began coverage on shares of Guardant Health in a research report on Friday. They set an “outperform” rating and a $175.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $144.82.

Guardant Health Trading Up 1.9%

The business’s 50 day simple moving average is $112.62 and its 200 day simple moving average is $104.02. The firm has a market capitalization of $20.15 billion, a PE ratio of -44.99 and a beta of 1.61.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Meghan V. Joyce sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $126.98, for a total value of $1,269,800.00. Following the sale, the director owned 11,183 shares in the company, valued at approximately $1,420,017.34. This trade represents a 47.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 452,513 shares of company stock worth $51,608,916 in 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 modified their holdings of GH. V Square Quantitative Management LLC bought a new position in shares of Guardant Health during the 4th quarter valued at approximately $27,000. Chesapeake Asset Management LLC bought a new stake in Guardant Health in the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Guardant Health during the fourth quarter worth $31,000. Elyxium Wealth LLC purchased a new position in Guardant Health during the fourth quarter worth $35,000. Finally, Parallel Advisors LLC boosted its stake in Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.