Guardant Health (NASDAQ:GH) Price Target Raised to $185.00

Guardant Health (NASDAQ:GH) had its price objective hoisted by Morgan Stanley from $175.00 to $185.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the company. TD Cowen increased their price objective on Guardant Health from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 31st. UBS Group set a $150.00 price target on shares of Guardant Health in a research report on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Guardant Health in a research note on Friday, July 17th. Citigroup lifted their price objective on shares of Guardant Health from $150.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Guardant Health from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $183.78.

Guardant Health Stock Down 3.4%

NASDAQ:GH opened at $157.58 on Tuesday. The company has a market capitalization of $21.15 billion, a PE ratio of -45.15 and a beta of 1.60. Guardant Health has a 52-week low of $48.25 and a 52-week high of $176.58. The stock’s 50 day moving average price is $146.24 and its 200 day moving average price is $114.82.

Insider Activity at Guardant Health

In other news, insider John G. Saia sold 20,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $106.51, for a total transaction of $2,130,200.00. Following the completion of the sale, the insider directly owned 45,950 shares in the company, valued at approximately $4,894,134.50. This trade represents a 30.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian T. Clark sold 14,180 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total value of $2,253,485.60. Following the completion of the sale, the director owned 2,975 shares in the company, valued at approximately $472,787. This represents a 82.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 724,445 shares of company stock valued at $93,089,291 in the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in Guardant Health in the 4th quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Guardant Health during the fourth quarter worth $31,000. Elyxium Wealth LLC acquired a new stake in shares of Guardant Health during the fourth quarter worth $35,000. Parallel Advisors LLC grew its position in shares of Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 219 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of Guardant Health in the second quarter valued at $59,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.