Guardant Health (NASDAQ:GH) Trading 9.8% Higher – What’s Next?

Shares of Guardant Health, Inc. (NASDAQ:GH) shot up 9.8% on Tuesday . The company traded as high as $39.77 and last traded at $39.34. 275,606 shares were traded during trading, a decline of 87% from the average session volume of 2,115,893 shares. The stock had previously closed at $35.84.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley lifted their price objective on shares of Guardant Health from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Canaccord Genuity Group upped their price objective on Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Barclays initiated coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective for the company. Finally, Scotiabank raised their price objective on Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Twenty research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $48.40.

Guardant Health Stock Down 2.5 %

The stock has a market capitalization of $5.13 billion, a P/E ratio of -12.10 and a beta of 1.50. The firm has a 50-day moving average of $42.65 and a 200 day moving average of $32.68.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The business had revenue of $201.81 million during the quarter, compared to the consensus estimate of $192.50 million. Analysts predict that Guardant Health, Inc. will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now directly owns 2,676 shares in the company, valued at $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,668 shares of company stock valued at $95,208 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Guardant Health

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Guardant Health by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock worth $368,205,000 after acquiring an additional 350,606 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Guardant Health by 188.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after acquiring an additional 6,618,785 shares in the last quarter. Deep Track Capital LP lifted its position in shares of Guardant Health by 7.0% during the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock valued at $196,118,000 after acquiring an additional 419,006 shares during the period. Eventide Asset Management LLC increased its stake in Guardant Health by 2.0% in the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock valued at $88,028,000 after purchasing an additional 76,762 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Guardant Health by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after buying an additional 29,686 shares during the period. Institutional investors own 92.60% of the company’s stock.

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.