Guardant Health, Inc. (NASDAQ:GH) Receives $129.00 Average Target Price from Brokerages

Guardant Health, Inc. (NASDAQ:GH) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nineteen have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $129.7895.

GH has been the topic of several recent analyst reports. UBS Group reissued a “buy” rating and set a $175.00 price target on shares of Guardant Health in a research report on Friday, January 30th. Wells Fargo & Company upped their price target on Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. upped their price target on Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Robert W. Baird initiated coverage on Guardant Health in a research report on Tuesday, February 17th. They set an “outperform” rating and a $120.00 price target on the stock. Finally, Raymond James Financial reissued an “outperform” rating and set a $129.00 price target on shares of Guardant Health in a research report on Monday, February 23rd.

Insider Activity

In related news, Director Ian T. Clark sold 6,876 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $106.90, for a total transaction of $735,044.40. Following the transaction, the director directly owned 2,975 shares of the company’s stock, valued at approximately $318,027.50. The trade was a 69.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amirali Talasaz sold 210,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total value of $23,076,900.00. Following the transaction, the chief executive officer directly owned 1,886,504 shares in the company, valued at $207,307,924.56. The trade was a 10.02% 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 sold 332,244 shares of company stock valued at $36,156,026 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC increased its position in Guardant Health by 87.5% in the 1st quarter. Perceptive Advisors LLC now owns 300,000 shares of the company’s stock worth $27,711,000 after purchasing an additional 140,000 shares during the last quarter. BankChampaign National Association acquired a new position in Guardant Health in the 1st quarter worth about $809,000. Western Wealth Management LLC acquired a new position in Guardant Health in the 1st quarter worth about $125,000. Hamilton Wealth LLC increased its position in Guardant Health by 103.0% in the 1st quarter. Hamilton Wealth LLC now owns 76,700 shares of the company’s stock worth $7,085,000 after purchasing an additional 38,916 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in Guardant Health by 321.6% in the 1st quarter. Edgestream Partners L.P. now owns 32,257 shares of the company’s stock worth $2,980,000 after purchasing an additional 24,606 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Stock Down 2.6%

Shares of Guardant Health stock opened at $129.69 on Monday. The stock’s fifty day moving average is $95.08 and its 200-day moving average is $99.94. The firm has a market capitalization of $17.20 billion, a PE ratio of -38.26 and a beta of 1.48. Guardant Health has a 12-month low of $38.03 and a 12-month high of $133.97.

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.