Steve Krognes Sells 9,294 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) Director Steve Krognes sold 9,294 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $132.51, for a total transaction of $1,231,547.94. Following the completion of the sale, the director owned 10,222 shares in the company, valued at approximately $1,354,517.22. This trade represents a 47.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Guardant Health Stock Performance

GH opened at $125.61 on Friday. The firm’s fifty day moving average is $99.39 and its two-hundred day moving average is $101.08. The firm has a market cap of $16.66 billion, a PE ratio of -37.05 and a beta of 1.61. Guardant Health, Inc. has a twelve month low of $40.35 and a twelve month high of $134.28.

Institutional Investors Weigh In On Guardant Health

Several institutional investors have recently added to or reduced their stakes in GH. Perceptive Advisors LLC lifted its position in Guardant Health by 87.5% during the 1st quarter. Perceptive Advisors LLC now owns 300,000 shares of the company’s stock worth $27,711,000 after buying an additional 140,000 shares in the last quarter. BankChampaign National Association bought a new stake in Guardant Health during the 1st quarter worth about $809,000. Western Wealth Management LLC bought a new stake in Guardant Health during the 1st quarter worth about $125,000. Hamilton Wealth LLC lifted its position in Guardant Health by 103.0% during the 1st quarter. Hamilton Wealth LLC now owns 76,700 shares of the company’s stock worth $7,085,000 after buying an additional 38,916 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its position in Guardant Health by 321.6% during the 1st quarter. Edgestream Partners L.P. now owns 32,257 shares of the company’s stock worth $2,980,000 after buying an additional 24,606 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

GH has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup boosted their price objective on shares of Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Guggenheim cut shares of Guardant Health from a “buy” rating to a “buy” rating in a research report on Thursday, May 28th. Finally, Leerink Partners boosted their price objective on shares of Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Guardant Health currently has a consensus rating of “Buy” and a consensus target price of $137.80.

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.