Guardant Health (NASDAQ:GH) Sets New 52-Week High – Here’s Why

Guardant Health, Inc. (NASDAQ:GH)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $42.00 and last traded at $42.12, with a volume of 650168 shares trading hands. The stock had previously closed at $36.66.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GH shares. JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Leerink Partners dropped their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein reduced their target price on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $40.60.

Guardant Health Price Performance

The stock’s 50 day simple moving average is $33.91 and its two-hundred day simple moving average is $29.02. The company has a market capitalization of $5.21 billion, a P/E ratio of -9.97 and a beta of 1.28.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The company had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.73) EPS. As a group, equities research analysts expect that Guardant Health, Inc. will post -3.44 earnings per share for the current year.

Insider Activity

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the sale, the director now owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Musa Tariq sold 2,320 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares in the company, valued at approximately $93,660. This trade represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,432 shares of company stock valued at $175,423 over the last 90 days. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently modified their holdings of GH. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock worth $102,000 after acquiring an additional 796 shares in the last quarter. Fiduciary Alliance LLC lifted its holdings in shares of Guardant Health by 7.6% during the 4th quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after purchasing an additional 836 shares in the last quarter. JNBA Financial Advisors acquired a new position in shares of Guardant Health in the 3rd quarter valued at approximately $26,000. Wexford Capital LP increased its stake in Guardant Health by 13.0% during the 3rd quarter. Wexford Capital LP now owns 10,081 shares of the company’s stock worth $231,000 after purchasing an additional 1,158 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Guardant Health during the 3rd quarter worth approximately $34,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Company Profile

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.