Guardant Health (NASDAQ:GH) Reaches New 52-Week High – What’s Next?

Guardant Health, Inc. (NASDAQ:GH)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $124.00 and last traded at $121.79, with a volume of 235520 shares traded. The stock had previously closed at $119.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. TD Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Thursday, May 21st. Wells Fargo & Company lifted their price target on Guardant Health from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Guggenheim cut Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday. Finally, Barclays lifted their price target on Guardant Health from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.79.

Guardant Health Stock Up 4.5%

The company has a market capitalization of $17.66 billion, a P/E ratio of -39.30 and a beta of 1.48. The company has a 50-day moving average of $94.23 and a two-hundred day moving average of $99.73.

Insider Activity at Guardant Health

In related news, insider Chris Freeman sold 24,406 shares of Guardant Health stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the sale, the insider directly owned 60,034 shares in the company, valued at $7,124,234.78. The trade was a 28.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John G. Saia sold 10,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $125.08, for a total value of $1,250,800.00. Following the sale, the insider owned 35,950 shares in the company, valued at $4,496,626. This represents a 21.76% 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. Insiders sold a total of 331,244 shares of company stock valued at $36,025,966 over the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in Guardant Health in the fourth quarter worth $27,000. Chesapeake Asset Management LLC bought a new stake in Guardant Health in the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Guardant Health in the fourth quarter worth $31,000. Elyxium Wealth LLC bought a new stake in Guardant Health in the fourth quarter worth $35,000. Finally, Parallel Advisors LLC boosted its holdings in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 219 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

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.