Guardant Health (NASDAQ:GH) Trading 3.4% Higher

Guardant Health, Inc. (NASDAQ:GH)’s stock price traded up 3.4% on Wednesday . The company traded as high as $16.88 and last traded at $16.71. 786,617 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,890,139 shares. The stock had previously closed at $16.16.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Guggenheim reissued a “neutral” rating on shares of Guardant Health in a report on Friday, April 5th. JPMorgan Chase & Co. lowered their price objective on Guardant Health from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Canaccord Genuity Group lowered their price objective on Guardant Health from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Piper Sandler lowered their price objective on Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, February 26th. Finally, The Goldman Sachs Group lowered their price objective on Guardant Health from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $40.40.

Guardant Health Stock Performance

The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The company has a 50-day moving average price of $19.34 and a two-hundred day moving average price of $23.36. The stock has a market capitalization of $1.96 billion, a P/E ratio of -3.89 and a beta of 0.87.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The company had revenue of $155.05 million during the quarter, compared to the consensus estimate of $151.71 million. Guardant Health had a negative return on equity of 301.94% and a negative net margin of 85.02%. Equities analysts expect that Guardant Health, Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kumud Kalia bought 2,187 shares of the business’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $17.82 per share, with a total value of $38,972.34. Following the completion of the purchase, the insider now directly owns 12,722 shares in the company, valued at $226,706.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently made changes to their positions in GH. CWM LLC increased its holdings in shares of Guardant Health by 137.1% during the third quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after acquiring an additional 569 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of Guardant Health during the third quarter valued at $35,000. Acadian Asset Management LLC bought a new position in shares of Guardant Health during the first quarter valued at $37,000. Captrust Financial Advisors increased its holdings in shares of Guardant Health by 33.2% during the second quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock valued at $44,000 after acquiring an additional 271 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Guardant Health by 362.3% during the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after acquiring an additional 1,844 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.