Insider Selling: Guardant Health (NASDAQ:GH) Director Sells $255,893.16 in Stock

Guardant Health, Inc. (NASDAQ:GH) Director Musa Tariq sold 1,951 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the completion of the transaction, the director directly owned 11,048 shares in the company, valued at $1,449,055.68. The trade was a 15.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Musa Tariq also recently made the following trade(s):

• On Tuesday, June 16th, Musa Tariq sold 116 shares of Guardant Health stock. The stock was sold at an average price of $130.19, for a total value of $15,102.04.
• On Monday, May 18th, Musa Tariq sold 116 shares of Guardant Health stock. The shares were sold at an average price of $95.96, for a total value of $11,131.36.
• On Thursday, April 16th, Musa Tariq sold 116 shares of Guardant Health stock. The shares were sold at an average price of $84.83, for a total value of $9,840.28.

Guardant Health Stock Performance

Guardant Health stock opened at $142.94 on Friday. The firm has a market cap of $18.95 billion, a P/E ratio of -42.17 and a beta of 1.61. The business’s fifty day moving average is $111.34 and its two-hundred day moving average is $103.70. Guardant Health, Inc. has a 52 week low of $40.35 and a 52 week high of $145.84.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GH shares. Barclays boosted their target price on shares of Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research started coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Mizuho upped their price objective on Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada assumed coverage on Guardant Health in a report on Thursday, June 11th. They set an “outperform” rating and a $185.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Guardant Health presently has a consensus rating of “Moderate Buy” and an average target price of $142.19.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of Guardant Health by 56.5% during the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after buying an additional 25,831 shares during the last quarter. Empowered Funds LLC bought a new position in Guardant Health in the first quarter valued at approximately $274,000. Sei Investments Co. boosted its stake in Guardant Health by 15.8% in the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock worth $32,922,000 after acquiring an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Guardant Health by 56.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock worth $5,800,000 after acquiring an additional 40,209 shares during the period. Institutional investors own 92.60% of the company’s stock.

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.