Insider Selling: Guardant Health (NASDAQ:GH) Insider Sells 10,000 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) insider John Saia sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $125.08, for a total transaction of $1,250,800.00. Following the sale, the insider directly owned 35,950 shares in the company, valued at $4,496,626. This represents a 21.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Price Performance

Shares of NASDAQ:GH traded up $5.71 during trading on Thursday, reaching $133.22. The stock had a trading volume of 2,997,053 shares, compared to its average volume of 2,113,219. The stock has a market capitalization of $17.66 billion, a PE ratio of -39.30 and a beta of 1.48. Guardant Health, Inc. has a 52 week low of $38.03 and a 52 week high of $133.71. The business’s 50-day moving average price is $93.34 and its 200 day moving average price is $99.48.

Hedge Funds Weigh In On Guardant Health

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup raised their target price on Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Barclays raised their target price on Guardant Health from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their target price on Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Leerink Partners raised their target price on Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, Guggenheim lowered Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $129.79.

About Guardant Health

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.