Musa Tariq Sells 348 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) Director Musa Tariq sold 348 shares of Guardant Health stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $88.09, for a total transaction of $30,655.32. Following the sale, the director owned 8,394 shares of the company’s stock, valued at approximately $739,427.46. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Guardant Health Stock Performance

Guardant Health stock opened at $85.18 on Friday. The company’s 50 day simple moving average is $101.81 and its 200-day simple moving average is $90.42. Guardant Health, Inc. has a 1 year low of $36.36 and a 1 year high of $120.74. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of -25.73 and a beta of 1.67.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The company had revenue of $281.27 million for the quarter, compared to analysts’ expectations of $269.74 million. During the same period in the prior year, the firm earned ($0.62) earnings per share. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. Equities analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Institutional Trading of Guardant Health

Several hedge funds have recently modified their holdings of GH. V Square Quantitative Management LLC acquired a new position in Guardant Health during the 4th quarter worth $27,000. Chesapeake Asset Management LLC acquired a new stake in Guardant Health in the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Guardant Health in the 4th quarter valued at about $31,000. Elyxium Wealth LLC purchased a new position in shares of Guardant Health in the 4th quarter valued at about $35,000. Finally, Parallel Advisors LLC grew its position in shares of Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GH shares. Canaccord Genuity Group lifted their price objective on Guardant Health from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 20th. BTIG Research increased their target price on Guardant Health from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Piper Sandler raised their target price on Guardant Health from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. UBS Group reaffirmed a “buy” rating and issued a $175.00 target price on shares of Guardant Health in a research report on Friday, January 30th. Finally, Morgan Stanley boosted their price target on shares of Guardant Health from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Twenty-one research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Guardant Health currently has a consensus rating of “Moderate Buy” and an average target price of $122.57.

Guardant Health Company Profile

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.