Guardant Health, Inc. (NASDAQ:GH) Given Consensus Rating of “Moderate Buy” by Brokerages

Guardant Health, Inc. (NASDAQ:GH) has been given a consensus recommendation of “Moderate Buy” by the twenty-five brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $160.0435.

GH has been the subject of a number of analyst reports. BTIG Research lifted their price target on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley raised their target price on Guardant Health from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Piper Sandler set a $127.00 price target on shares of Guardant Health in a research report on Thursday, May 21st. Mizuho raised their price objective on shares of Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Guggenheim lifted their price objective on shares of Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 16th.

Guardant Health Price Performance

Shares of GH opened at $148.07 on Tuesday. The business has a 50-day moving average of $135.24 and a 200-day moving average of $110.66. The company has a market capitalization of $19.63 billion, a price-to-earnings ratio of -43.68 and a beta of 1.59. Guardant Health has a 1 year low of $40.35 and a 1 year high of $174.08.

Insider Transactions at Guardant Health

In related news, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health stock in a transaction on Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the transaction, the chief executive officer directly owned 2,012,919 shares of the company’s stock, valued at $254,231,669.70. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Saia sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $106.51, for a total value of $2,130,200.00. Following the transaction, the insider directly owned 45,950 shares of the company’s stock, valued at approximately $4,894,134.50. This trade represents a 30.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 708,565 shares of company stock valued at $90,556,597. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Guardant Health by 14.5% in the 2nd quarter. GAMMA Investing LLC now owns 965 shares of the company’s stock worth $145,000 after buying an additional 122 shares during the period. Allworth Financial LP raised its position in Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares during the last quarter. Eastern Bank lifted its stake in Guardant Health by 6.9% during the 4th quarter. Eastern Bank now owns 2,160 shares of the company’s stock valued at $221,000 after acquiring an additional 139 shares during the period. First Pacific Financial lifted its stake in Guardant Health by 33.1% during the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock valued at $52,000 after acquiring an additional 139 shares during the period. Finally, Xponance LLC boosted its holdings in shares of Guardant Health by 2.1% in the 4th quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after acquiring an additional 199 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

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.