Guardant Health (NASDAQ:GH) Upgraded by Wolfe Research to Strong-Buy Rating

Wolfe Research upgraded shares of Guardant Health (NASDAQ:GH) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other research analysts have also weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research report on Tuesday, April 21st. Raymond James Financial reissued an “outperform” rating and set a $129.00 price target on shares of Guardant Health in a research report on Monday, February 23rd. Stifel Nicolaus upped their price target on Guardant Health from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Wells Fargo & Company upped their price target on Guardant Health from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Finally, Evercore raised Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price target on the stock in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.37.

Guardant Health Trading Up 0.8%

NASDAQ:GH opened at $130.17 on Monday. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of -38.40 and a beta of 1.61. Guardant Health has a 1-year low of $40.35 and a 1-year high of $133.97. The business’s fifty day moving average price is $95.88 and its 200 day moving average price is $100.18.

Insider Buying and Selling

In other Guardant Health news, insider Chris Freeman sold 24,406 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $118.67, for a total value of $2,896,260.02. Following the transaction, the insider directly owned 60,034 shares of the company’s stock, valued at $7,124,234.78. This represents a 28.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amirali Talasaz sold 210,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total value of $23,076,900.00. Following the completion of the transaction, the chief executive officer directly owned 1,886,504 shares in the company, valued at approximately $207,307,924.56. The trade was a 10.02% 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. Over the last 90 days, insiders sold 332,244 shares of company stock worth $36,156,026. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH boosted its stake in shares of Guardant Health by 10.4% during the 3rd quarter. Erste Asset Management GmbH now owns 705,217 shares of the company’s stock worth $43,716,000 after acquiring an additional 66,617 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Guardant Health by 57.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 305,147 shares of the company’s stock worth $19,066,000 after acquiring an additional 111,822 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Guardant Health by 16.1% during the 3rd quarter. TD Asset Management Inc now owns 188,810 shares of the company’s stock worth $11,797,000 after acquiring an additional 26,210 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Guardant Health by 155.5% during the 3rd quarter. GSA Capital Partners LLP now owns 21,982 shares of the company’s stock worth $1,373,000 after acquiring an additional 13,378 shares in the last quarter. Finally, World Investment Advisors bought a new stake in shares of Guardant Health during the 4th quarter worth about $1,664,000. 92.60% of the stock is owned by institutional investors and hedge funds.

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.