Canaccord Genuity initiated coverage on shares of Guardant Health (NASDAQ:GH) in a research report released on Tuesday, April 16th, BenzingaRatingsTable reports. The firm issued a buy rating and a $90.00 price objective on the stock.
Other equities analysts have also recently issued reports about the stock. Bank of America reaffirmed a neutral rating and set a $60.00 target price (up from $42.00) on shares of Guardant Health in a research note on Thursday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Guardant Health from $42.00 to $85.00 and gave the stock an overweight rating in a research note on Wednesday, March 13th. William Blair reissued an outperform rating on shares of Guardant Health in a research note on Wednesday, March 13th. Zacks Investment Research cut shares of Guardant Health from a hold rating to a sell rating in a research note on Monday, March 18th. Finally, Cowen lifted their price objective on shares of Guardant Health from $40.00 to $70.00 and gave the stock an outperform rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Guardant Health presently has a consensus rating of Buy and a consensus target price of $83.50.
Guardant Health stock traded up $11.93 during midday trading on Tuesday, reaching $76.00. 4,935,919 shares of the company traded hands, compared to its average volume of 1,067,273. Guardant Health has a 12 month low of $27.04 and a 12 month high of $106.58. The company has a market cap of $5.57 billion and a price-to-earnings ratio of -27.14.
In other Guardant Health news, Chairman Amirali Talasaz sold 232,460 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $65.60, for a total transaction of $15,249,376.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael J. Wiley sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $65.96, for a total transaction of $5,276,800.00. The disclosure for this sale can be found here. Insiders sold a total of 876,426 shares of company stock valued at $59,464,281 in the last 90 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of GH. First Trust Advisors LP grew its position in shares of Guardant Health by 0.4% in the 1st quarter. First Trust Advisors LP now owns 71,871 shares of the company’s stock worth $5,513,000 after buying an additional 264 shares during the last quarter. Rhumbline Advisers grew its position in Guardant Health by 1.8% during the 1st quarter. Rhumbline Advisers now owns 20,247 shares of the company’s stock worth $1,553,000 after purchasing an additional 367 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in Guardant Health during the 4th quarter worth approximately $26,000. Mascoma Wealth Management LLC purchased a new stake in Guardant Health during the 1st quarter worth approximately $54,000. Finally, SG Americas Securities LLC purchased a new stake in Guardant Health during the 1st quarter worth approximately $108,000. 68.60% of the stock is currently owned by institutional investors and hedge funds.
About Guardant Health
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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