Guardant Health (NASDAQ:GH) Stock Price Down 6.4% – Time to Sell?

Guardant Health, Inc. (NASDAQ:GH)’s stock price fell 6.4% on Tuesday. The company traded as low as $175.16 and last traded at $175.2690. 942,091 shares traded hands during trading, a decline of 58% from the average daily volume of 2,225,400 shares. The stock had previously closed at $187.22.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Stephens boosted their price target on shares of Guardant Health from $170.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Guggenheim increased their price objective on shares of Guardant Health from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Stifel Nicolaus lifted their target price on shares of Guardant Health from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. UBS Group upped their price target on shares of Guardant Health from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group lifted their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.38.

Guardant Health Trading Down 1.4%

The company has a market cap of $22.59 billion, a price-to-earnings ratio of -48.23 and a beta of 1.58. The stock’s 50-day moving average is $167.47 and its 200-day moving average is $135.68.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, analysts predict that Guardant Health, Inc. will post -2.98 EPS for the current year.

Insiders Place Their Bets

In other Guardant Health news, CEO Amirali Talasaz sold 37,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $169.16, for a total transaction of $6,343,500.00. Following the transaction, the chief executive officer directly owned 37,500 shares in the company, valued at approximately $6,343,500. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alex M. Azar II sold 826 shares of Guardant Health stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $175.00, for a total value of $144,550.00. Following the sale, the director owned 825 shares in the company, valued at $144,375. This trade represents a 50.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,755 shares of company stock worth $30,040,636 over the last three months. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new position in Guardant Health in the second quarter valued at approximately $208,592,000. William Blair Investment Management LLC bought a new stake in Guardant Health in the 2nd quarter valued at about $196,737,000. Summit Partners Public Asset Management LLC boosted its position in Guardant Health by 674.5% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after purchasing an additional 741,958 shares during the period. First Light Asset Management LLC increased its stake in shares of Guardant Health by 57.5% in the second quarter. First Light Asset Management LLC now owns 441,586 shares of the company’s stock worth $66,251,000 after purchasing an additional 161,287 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Guardant Health in the first quarter valued at approximately $40,199,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

About Guardant Health

Guardant Health, Inc (NASDAQ: GH) is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor’s molecular characteristics.

The company’s products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.