Insider Selling: Guardant Health (NASDAQ:GH) Director Sells $204,084.96 in Stock

Guardant Health, Inc. (NASDAQ:GH) Director Myrtle Potter sold 1,556 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $204,084.96. Following the completion of the transaction, the director directly owned 20,971 shares in the company, valued at $2,750,556.36. This trade represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Price Performance

NASDAQ:GH opened at $142.94 on Friday. The firm has a 50-day moving average of $111.34 and a 200-day moving average of $103.70. The company has a market cap of $18.95 billion, a PE ratio of -42.17 and a beta of 1.61. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $145.84.

Wall Street Analyst Weigh In

GH has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on Guardant Health in a report on Friday, June 5th. They set a “buy” rating and a $165.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Barclays upped their price target on Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho increased their price target on Guardant Health from $135.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Wolfe Research began coverage on Guardant Health in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.

Institutional Investors Weigh In On Guardant Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Guardant Health during the 4th quarter worth approximately $27,000. Chesapeake Asset Management LLC bought a new stake in Guardant Health during the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Guardant Health in the fourth quarter worth $31,000. Elyxium Wealth LLC bought a new position in Guardant Health in the 4th quarter valued at $35,000. Finally, Parallel Advisors LLC increased its position in shares of Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.