Guardant Health (NASDAQ:GH) Stock Price Down 5.3%

Guardant Health Inc (NASDAQ:GH) shares traded down 5.3% on Monday . The company traded as low as $85.29 and last traded at $87.22, 867,531 shares changed hands during mid-day trading. A decline of 11% from the average session volume of 976,964 shares. The stock had previously closed at $92.06.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Guardant Health from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Zacks Investment Research raised shares of Guardant Health from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Wednesday, July 24th. Canaccord Genuity assumed coverage on shares of Guardant Health in a report on Tuesday, April 16th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Bank of America raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Wednesday, April 10th. Seven investment analysts have rated the stock with a buy rating, Guardant Health has a consensus rating of “Buy” and a consensus target price of $87.80.

The business’s fifty day simple moving average is $89.86. The stock has a market capitalization of $8.02 billion and a P/E ratio of -31.15.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $32.12 million. Sell-side analysts predict that Guardant Health Inc will post -1.46 earnings per share for the current fiscal year.

In other news, insider Michael J. Wiley sold 80,000 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard B. Lanman sold 1,690 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $80.00, for a total transaction of $135,200.00. The disclosure for this sale can be found here. Insiders sold 178,912 shares of company stock valued at $12,518,545 in the last ninety days. 13.00% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in Guardant Health in the 2nd quarter valued at about $14,451,000. State Board of Administration of Florida Retirement System acquired a new position in Guardant Health in the 2nd quarter valued at about $1,911,000. Lisanti Capital Growth LLC acquired a new position in Guardant Health in the 2nd quarter valued at about $1,351,000. Swiss National Bank acquired a new position in Guardant Health in the 2nd quarter valued at about $2,754,000. Finally, Comerica Bank acquired a new position in Guardant Health in the 2nd quarter valued at about $1,011,000. 69.84% of the stock is owned by institutional investors and hedge funds.

Guardant Health Company Profile (NASDAQ:GH)

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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