Insider Selling: Guardant Health (NASDAQ:GH) CEO Sells $17,638,207.88 in Stock

Guardant Health, Inc. (NASDAQ:GH) CEO Amirali Talasaz sold 116,972 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $150.79, for a total transaction of $17,638,207.88. Following the sale, the chief executive officer directly owned 1,881,336 shares in the company, valued at approximately $283,686,655.44. The trade was a 5.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amirali Talasaz also recently made the following trade(s):

• On Monday, June 29th, Amirali Talasaz sold 143,028 shares of Guardant Health stock. The shares were sold at an average price of $151.54, for a total transaction of $21,674,463.12.
• On Wednesday, May 20th, Amirali Talasaz sold 210,000 shares of Guardant Health stock. The stock was sold at an average price of $109.89, for a total transaction of $23,076,900.00.
• On Tuesday, May 12th, Amirali Talasaz sold 50,000 shares of Guardant Health stock. The stock was sold at an average price of $100.32, for a total transaction of $5,016,000.00.

Guardant Health Price Performance

Shares of NASDAQ GH traded down $3.71 during mid-day trading on Tuesday, hitting $150.03. 3,327,903 shares of the company’s stock traded hands, compared to its average volume of 2,298,095. Guardant Health, Inc. has a 1 year low of $40.35 and a 1 year high of $153.95. The company’s 50-day moving average is $113.99 and its two-hundred day moving average is $104.38. The company has a market capitalization of $19.89 billion, a P/E ratio of -44.26 and a beta of 1.61.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hamilton Wealth LLC boosted its position in shares of Guardant Health by 103.0% during the first quarter. Hamilton Wealth LLC now owns 76,700 shares of the company’s stock valued at $7,085,000 after buying an additional 38,916 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Guardant Health in the first quarter worth approximately $125,000. Perceptive Advisors LLC lifted its stake in shares of Guardant Health by 87.5% during the 1st quarter. Perceptive Advisors LLC now owns 300,000 shares of the company’s stock worth $27,711,000 after acquiring an additional 140,000 shares during the last quarter. BankChampaign National Association bought a new stake in shares of Guardant Health during the 1st quarter worth approximately $809,000. Finally, Edgestream Partners L.P. boosted its holdings in Guardant Health by 321.6% during the 1st quarter. Edgestream Partners L.P. now owns 32,257 shares of the company’s stock valued at $2,980,000 after acquiring an additional 24,606 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada began coverage on Guardant Health in a research report on Thursday, June 11th. They set an “outperform” rating and a $185.00 price objective on the stock. BTIG Research set a $160.00 target price on Guardant Health and gave the company a “buy” rating in a research report on Wednesday, May 27th. Guggenheim raised their price target on Guardant Health from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Evercore upgraded shares of Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price objective on the stock in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $144.82.

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.