Guardant Health (NASDAQ:GH) Trading Down 4.7% – Time to Sell?

Guardant Health, Inc. (NASDAQ:GH) shares traded down 4.7% during trading on Friday . The company traded as low as $106.39 and last traded at $103.4180. 204,699 shares were traded during trading, a decline of 92% from the average session volume of 2,456,233 shares. The stock had previously closed at $108.52.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GH. Stifel Nicolaus set a $73.00 price target on shares of Guardant Health in a report on Thursday, September 25th. Wolfe Research raised Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Thursday, September 25th. BTIG Research upped their price objective on shares of Guardant Health from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Citigroup raised their target price on shares of Guardant Health from $65.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, TD Cowen upped their price target on shares of Guardant Health from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.86.

Guardant Health Price Performance

The firm has a market capitalization of $12.90 billion, a PE ratio of -31.90 and a beta of 1.58. The firm has a fifty day moving average price of $83.83 and a 200 day moving average price of $62.66.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.09. During the same period last year, the company posted ($0.88) EPS. The company’s revenue was up 38.5% on a year-over-year basis. On average, sell-side analysts expect that Guardant Health, Inc. will post -2.9 EPS for the current year.

Insiders Place Their Bets

In other news, insider John G. Saia sold 8,996 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $96.25, for a total value of $865,865.00. Following the sale, the insider directly owned 43,172 shares in the company, valued at approximately $4,155,305. This represents a 17.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Terilyn J. Monroe sold 55,167 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $105.97, for a total value of $5,846,046.99. Following the completion of the transaction, the insider directly owned 20,920 shares of the company’s stock, valued at approximately $2,216,892.40. The trade was a 72.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 368,228 shares of company stock valued at $24,835,525. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GH. Driehaus Capital Management LLC bought a new stake in shares of Guardant Health in the 1st quarter worth about $82,349,000. Alyeska Investment Group L.P. acquired a new position in shares of Guardant Health in the 3rd quarter worth approximately $114,421,000. ARK Investment Management LLC raised its holdings in shares of Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after buying an additional 1,414,381 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Guardant Health by 100.9% during the first quarter. Invesco Ltd. now owns 2,794,667 shares of the company’s stock valued at $119,053,000 after acquiring an additional 1,403,670 shares during the period. Finally, Norges Bank bought a new position in Guardant Health in the second quarter valued at about $64,136,000. 92.60% of the stock is owned by institutional investors.

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.