Sanford C. Bernstein Reaffirms Outperform Rating for Guardant Health (NASDAQ:GH)

Guardant Health (NASDAQ:GH)‘s stock had its “outperform” rating reissued by research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $175.00 price target on the stock. Sanford C. Bernstein’s target price would indicate a potential upside of 22.43% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group set a $150.00 target price on Guardant Health in a report on Wednesday. Wolfe Research began coverage on shares of Guardant Health in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price target on the stock. Piper Sandler set a $127.00 price objective on shares of Guardant Health in a research report on Thursday, May 21st. Mizuho lifted their target price on Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.68.

Guardant Health Stock Up 4.4%

Shares of GH opened at $142.94 on Friday. The stock’s fifty day simple moving average is $111.34 and its 200-day simple moving average is $103.70. The firm has a market capitalization of $18.95 billion, a PE ratio of -42.17 and a beta of 1.61. Guardant Health has a 12-month low of $40.35 and a 12-month high of $145.84.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 210,000 shares of Guardant Health 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 sale, the chief executive officer directly owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. The trade was a 10.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John G. Saia sold 20,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $106.51, for a total transaction of $2,130,200.00. Following the transaction, the insider owned 45,950 shares of the company’s stock, valued at approximately $4,894,134.50. This represents a 30.33% 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. Over the last ninety days, insiders sold 452,513 shares of company stock worth $51,608,916. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Guardant Health in the 4th quarter valued at approximately $27,000. Chesapeake Asset Management LLC bought a new stake in Guardant Health during the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Guardant Health in the fourth quarter valued at $31,000. Elyxium Wealth LLC acquired a new stake in Guardant Health in the fourth quarter valued at $35,000. Finally, Parallel Advisors LLC grew its position in shares of Guardant Health by 164.7% in the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 219 shares during the period. 92.60% of the stock is currently owned by institutional investors.

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.