Guardant Health (NASDAQ:GH) Shares Gap Down to $29.02

Shares of Guardant Health, Inc. (NASDAQ:GH) gapped down before the market opened on Monday . The stock had previously closed at $29.02, but opened at $27.38. Guardant Health shares last traded at $26.00, with a volume of 849,728 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on GH shares. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. BTIG Research increased their target price on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, June 28th. Jefferies Financial Group initiated coverage on Guardant Health in a research note on Monday, June 3rd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $39.31.

Guardant Health Trading Down 2.2 %

The company has a quick ratio of 5.66, a current ratio of 5.95 and a debt-to-equity ratio of 16.70. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -6.67 and a beta of 1.13. The company has a fifty day moving average of $30.21 and a two-hundred day moving average of $24.54.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The firm had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. The firm’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.67) EPS. On average, research analysts expect that Guardant Health, Inc. will post -3.31 EPS for the current year.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently made changes to their positions in GH. Quarry LP purchased a new position in shares of Guardant Health during the 2nd quarter worth approximately $44,000. Manchester Capital Management LLC acquired a new stake in Guardant Health in the 1st quarter worth about $57,000. Canton Hathaway LLC purchased a new stake in Guardant Health in the 2nd quarter valued at about $59,000. Headlands Technologies LLC lifted its holdings in shares of Guardant Health by 362.3% during the 4th quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after acquiring an additional 1,844 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Guardant Health in the second quarter valued at approximately $71,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.