Guardant Health (NASDAQ:GH) Stock Price Down 6.4% – What’s Next?

Guardant Health, Inc. (NASDAQ:GH)’s stock price traded down 6.4% during mid-day trading on Tuesday. The company traded as low as $175.16 and last traded at $175.2690. Approximately 942,091 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 2,225,400 shares. The stock had previously closed at $187.22.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Bank of America boosted their price objective on Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. Citigroup raised their price target on shares of Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Guggenheim upped their price objective on shares of Guardant Health from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Guardant Health in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and a consensus price target of $188.54.

Guardant Health Stock Performance

The firm’s 50-day moving average price is $166.45 and its 200 day moving average price is $134.54. The company has a market cap of $23.38 billion, a price-to-earnings ratio of -49.90 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million for the quarter, compared to analyst estimates of $314.23 million. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period last year, the firm earned ($0.44) earnings per share. As a group, equities research analysts predict that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Insider Activity at Guardant Health

In other Guardant Health news, CTO Darya Chudova sold 7,738 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $178.00, for a total value of $1,377,364.00. Following the completion of the transaction, the chief technology officer directly owned 70,635 shares of the company’s stock, valued at approximately $12,573,030. The trade was a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amirali Talasaz sold 37,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $169.16, for a total value of $6,343,500.00. Following the sale, the chief executive officer directly owned 37,500 shares in the company, valued at approximately $6,343,500. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 178,755 shares of company stock valued at $30,040,636. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Guardant Health

A number of large investors have recently bought and sold shares of GH. ABS Investment Management LLC bought a new position in Guardant Health in the second quarter valued at approximately $345,069,000. Franklin Resources Inc. lifted its position in Guardant Health by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock valued at $343,348,000 after acquiring an additional 435,232 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Guardant Health in the 2nd quarter worth $208,592,000. William Blair Investment Management LLC bought a new position in Guardant Health during the 2nd quarter worth about $196,737,000. Finally, Erste Asset Management GmbH raised its stake in shares of Guardant Health by 48.3% in the 4th quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company’s stock valued at $106,781,000 after purchasing an additional 340,700 shares during the period. 92.60% of the stock is owned by institutional investors.

About Guardant Health

Guardant Health, Inc (NASDAQ: GH) is a precision oncology company that develops blood- and tissue-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients throughout the course of their disease. Its testing platforms analyze circulating tumor DNA and other genomic information to provide insights into a tumor’s molecular characteristics.

The company’s products include Guardant360 tests for comprehensive genomic profiling in advanced cancer, Guardant360 CDx, which is approved as a companion diagnostic for certain targeted therapies, and Guardant360 Response for assessing how a tumor may be responding to treatment.