Chris Freeman Sells 24,406 Shares of Guardant Health (NASDAQ:GH) Stock

Guardant Health, Inc. (NASDAQ:GH) insider Chris Freeman sold 24,406 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $118.67, for a total value of $2,896,260.02. Following the completion of the sale, the insider directly owned 60,034 shares in the company, valued at $7,124,234.78. This represents a 28.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Guardant Health Stock Up 0.8%

NASDAQ GH traded up $0.90 on Tuesday, hitting $119.85. The stock had a trading volume of 1,982,319 shares, compared to its average volume of 2,091,200. The company’s 50-day moving average is $91.85 and its two-hundred day moving average is $99.08. Guardant Health, Inc. has a one year low of $37.73 and a one year high of $121.01. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of -35.35 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GH. Piper Sandler set a $127.00 price target on Guardant Health in a research note on Thursday, May 21st. Raymond James Financial restated an “outperform” rating and issued a $129.00 price objective on shares of Guardant Health in a report on Monday, February 23rd. BTIG Research lifted their target price on Guardant Health from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday. Leerink Partners upped their price target on shares of Guardant Health from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Evercore set a $110.00 price objective on shares of Guardant Health in a research report on Friday, February 20th. Nineteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.53.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GH. Alyeska Investment Group L.P. acquired a new stake in shares of Guardant Health in the third quarter worth about $114,421,000. Price T Rowe Associates Inc. MD raised its stake in shares of Guardant Health by 33.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock valued at $575,670,000 after acquiring an additional 1,414,441 shares in the last quarter. Norges Bank bought a new position in shares of Guardant Health in the 4th quarter valued at approximately $128,499,000. Summit Partners Public Asset Management LLC lifted its holdings in Guardant Health by 674.5% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after purchasing an additional 741,958 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Guardant Health by 26.1% during the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock worth $182,836,000 after purchasing an additional 606,368 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

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.