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

Guardant Health, Inc. (NASDAQ:GH) shares hit a new 52-week high on Monday. The stock traded as high as $184.00 and last traded at $182.74, with a volume of 537547 shares changing hands. The stock had previously closed at $177.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada boosted their price target on Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Citigroup increased their price objective on Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Piper Sandler reiterated an “overweight” rating on shares of Guardant Health in a research report on Tuesday, September 15th. Finally, Evercore reissued an “outperform” rating and set a $200.00 target price on shares of Guardant Health in a research note on Monday, July 6th. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.54.

Guardant Health Price Performance

The company has a market capitalization of $24.77 billion, a P/E ratio of -52.84 and a beta of 1.58. The stock’s 50 day moving average is $165.62 and its 200-day moving average is $133.85.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The business’s revenue was up 44.3% compared to the same quarter last year. On average, equities research analysts anticipate that Guardant Health, Inc. will post -2.98 EPS for the current year.

Insider Buying and Selling

In other news, insider Terilyn J. Monroe sold 46,300 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the sale, the insider owned 22,979 shares in the company, valued at approximately $3,794,292.48. The trade was a 66.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Darya Chudova sold 7,738 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $178.00, for a total transaction of $1,377,364.00. Following the completion of the sale, the chief technology officer directly owned 70,635 shares in the company, valued at $12,573,030. This represents a 9.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 178,755 shares of company stock valued at $30,040,636 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guardant Health

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of Guardant Health by 12.4% in the second quarter. Allworth Financial LP now owns 1,072 shares of the company’s stock valued at $161,000 after purchasing an additional 118 shares in the last quarter. GAMMA Investing LLC lifted its position in Guardant Health by 14.5% during the second quarter. GAMMA Investing LLC now owns 965 shares of the company’s stock valued at $145,000 after purchasing an additional 122 shares during the last quarter. First Pacific Financial increased its holdings in shares of Guardant Health by 33.1% in the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock worth $52,000 after buying an additional 139 shares during the last quarter. ABS Investment Management LLC purchased a new stake in shares of Guardant Health during the 2nd quarter valued at about $345,069,000. Finally, MCF Advisors LLC raised its position in shares of Guardant Health by 755.0% during the 2nd quarter. MCF Advisors LLC now owns 171 shares of the company’s stock valued at $26,000 after buying an additional 151 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

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.