Shares of Guardant Health Inc (NASDAQ:GH) were down 6.4% on Wednesday . The stock traded as low as $71.05 and last traded at $71.50. Approximately 1,186,877 shares were traded during trading, an increase of 18% from the average daily volume of 1,002,726 shares. The stock had previously closed at $76.38.

GH has been the topic of several research analyst reports. Canaccord Genuity initiated coverage on Guardant Health in a research report on Tuesday, April 16th. They set a “buy” rating and a $90.00 price target on the stock. Bank of America upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of Guardant Health in a research report on Wednesday, March 13th. Cowen lifted their price target on Guardant Health from $40.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Guardant Health from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $83.50.

The stock has a market cap of $6.60 billion and a PE ratio of -27.50.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $36.66 million for the quarter, compared to analyst estimates of $32.12 million. As a group, research analysts forecast that Guardant Health Inc will post -1.44 earnings per share for the current fiscal year.

In related news, Chairman Amirali Talasaz sold 232,460 shares of Guardant Health stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $65.60, for a total value of $15,249,376.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Vision Fund (Aiv M1) Softbank bought 2,033,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was bought at an average price of $9.83 per share, for a total transaction of $19,994,121.70. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 975,338 shares of company stock worth $66,706,026.

Several hedge funds and other institutional investors have recently modified their holdings of GH. First Trust Advisors LP grew its holdings in shares of Guardant Health by 0.4% during the first quarter. First Trust Advisors LP now owns 71,871 shares of the company’s stock valued at $5,513,000 after buying an additional 264 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Guardant Health by 1.8% during the first quarter. Rhumbline Advisers now owns 20,247 shares of the company’s stock valued at $1,553,000 after buying an additional 367 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Guardant Health by 24.9% during the first quarter. Financial Advocates Investment Management now owns 2,785 shares of the company’s stock valued at $214,000 after buying an additional 555 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Guardant Health by 0.3% during the first quarter. Northern Trust Corp now owns 194,666 shares of the company’s stock valued at $14,931,000 after buying an additional 571 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Guardant Health during the fourth quarter valued at $26,000. Institutional investors and hedge funds own 66.99% of the company’s stock.

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About Guardant Health (NASDAQ:GH)

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.

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