Guardant Health (NASDAQ:GH) Trading 3.4% Higher

Shares of Guardant Health, Inc. (NASDAQ:GH) were up 3.4% on Wednesday . The stock traded as high as $16.88 and last traded at $16.71. Approximately 786,617 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 1,890,139 shares. The stock had previously closed at $16.16.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GH shares. Piper Sandler lowered their target price on Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Canaccord Genuity Group lowered their target price on Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 23rd. The Goldman Sachs Group lowered their target price on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their target price on Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Guggenheim reiterated a “neutral” rating on shares of Guardant Health in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $40.40.

Guardant Health Stock Down 3.6 %

The company has a 50-day moving average of $19.34 and a 200-day moving average of $23.36. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -3.89 and a beta of 0.87. The company has a current ratio of 6.54, a quick ratio of 6.24 and a debt-to-equity ratio of 7.18.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.65). Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. The business had revenue of $155.05 million for the quarter, compared to analyst estimates of $151.71 million. On average, equities analysts predict that Guardant Health, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Activity at Guardant Health

In other Guardant Health news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of $17.82 per share, with a total value of $38,972.34. Following the transaction, the insider now directly owns 12,722 shares of the company’s stock, valued at approximately $226,706.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. CWM LLC increased its holdings in shares of Guardant Health by 137.1% in the third quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after purchasing an additional 569 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Guardant Health in the third quarter worth about $35,000. Acadian Asset Management LLC purchased a new stake in shares of Guardant Health in the first quarter worth about $37,000. Captrust Financial Advisors boosted its stake in shares of Guardant Health by 33.2% in the second quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock worth $44,000 after buying an additional 271 shares during the last quarter. Finally, Headlands Technologies LLC boosted its position in Guardant Health by 362.3% during the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after purchasing an additional 1,844 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.