Bank of America Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Guardant Health (NASDAQ:GH) had its price target increased by equities researchers at Bank of America from $135.00 to $190.00 in a research report issued on Monday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 13.11% from the stock’s current price.

GH has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. The Goldman Sachs Group assumed coverage on shares of Guardant Health in a research report on Friday, June 5th. They set a “buy” rating and a $165.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Piper Sandler set a $127.00 price objective on Guardant Health in a report on Thursday, May 21st. Finally, Guggenheim lifted their price objective on Guardant Health from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and a consensus price target of $149.17.

Guardant Health Price Performance

GH stock opened at $167.98 on Monday. The firm has a market capitalization of $22.27 billion, a P/E ratio of -49.55 and a beta of 1.59. The company’s 50 day simple moving average is $119.89 and its 200-day simple moving average is $106.12. Guardant Health has a 52-week low of $40.35 and a 52-week high of $172.60.

Insider Buying and Selling

In other Guardant Health news, CEO Amirali Talasaz sold 143,028 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $151.54, for a total value of $21,674,463.12. Following the completion of the sale, the chief executive officer owned 1,881,336 shares of the company’s stock, valued at $285,097,657.44. The trade was a 7.07% decrease in their ownership of the stock. The sale 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, Director Myrtle S. Potter sold 1,556 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $131.16, for a total value of $204,084.96. Following the transaction, the director directly owned 20,971 shares in the company, valued at approximately $2,750,556.36. This represents a 6.91% decrease in their position. 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. Over the last ninety days, insiders have sold 708,681 shares of company stock valued at $90,566,438. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Guardant Health

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Guardant Health by 56.5% during the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock valued at $3,012,000 after acquiring an additional 25,831 shares during the period. Empowered Funds LLC acquired a new stake in Guardant Health in the 1st quarter valued at approximately $274,000. Sei Investments Co. grew its holdings in Guardant Health by 15.8% in the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after buying an additional 10,538 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Guardant Health by 9.4% in 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Guardant Health by 56.4% during 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 purchasing an additional 40,209 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.