Insider Selling: Guardant Health (NASDAQ:GH) Director Sells 9,294 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Steve Krognes sold 9,294 shares of Guardant Health stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $132.51, for a total value of $1,231,547.94. Following the sale, the director owned 10,222 shares in the company, valued at $1,354,517.22. This trade represents a 47.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Guardant Health Stock Down 5.6%

Guardant Health stock traded down $7.45 during mid-day trading on Friday, reaching $125.61. 3,345,429 shares of the company’s stock were exchanged, compared to its average volume of 2,399,077. The business’s fifty day simple moving average is $99.39 and its 200 day simple moving average is $101.08. The firm has a market capitalization of $16.66 billion, a PE ratio of -37.05 and a beta of 1.61. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $134.28.

Analyst Upgrades and Downgrades

GH has been the subject of a number of recent research reports. Raymond James Financial reissued an “outperform” rating and issued a $129.00 target price on shares of Guardant Health in a research report on Monday, February 23rd. Guggenheim downgraded Guardant Health from a “buy” rating to a “buy” rating in a research report on Thursday, May 28th. Evercore raised Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 target price for the company in a research report on Tuesday. TD Cowen reissued a “buy” rating on shares of Guardant Health in a research report on Thursday, May 21st. Finally, Wolfe Research initiated coverage on Guardant Health in a research report on Tuesday. They issued an “outperform” rating and a $150.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average price target of $137.80.

Hedge Funds Weigh In On Guardant Health

Several hedge funds have recently made changes to their positions in GH. V Square Quantitative Management LLC purchased a new position in shares of Guardant Health in the fourth quarter valued at $27,000. Chesapeake Asset Management LLC purchased a new position in shares of Guardant Health in the fourth quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Guardant Health in the fourth quarter valued at $31,000. Elyxium Wealth LLC purchased a new position in shares of 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 fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 219 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other 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.