Guardant Health (NASDAQ:GH) Director Myrtle Potter Sells 1,556 Shares of Stock

Guardant Health, Inc. (NASDAQ:GH) Director Myrtle Potter sold 1,556 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $204,084.96. Following the completion of the transaction, the director directly owned 20,971 shares in the company, valued at $2,750,556.36. The trade was a 6.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Stock Up 1.6%

NASDAQ GH opened at $130.83 on Wednesday. Guardant Health, Inc. has a 52 week low of $40.35 and a 52 week high of $135.00. The firm has a market capitalization of $17.35 billion, a P/E ratio of -38.59 and a beta of 1.61. The company has a 50-day moving average price of $109.11 and a 200-day moving average price of $103.22.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GH. AQR Capital Management LLC boosted its position in shares of Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after purchasing an additional 25,831 shares during the period. Empowered Funds LLC purchased a new stake in shares of Guardant Health in the first quarter worth $274,000. Sei Investments Co. raised its position in shares of Guardant Health by 15.8% during the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after purchasing an additional 10,538 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Guardant Health by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after purchasing an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Guardant Health by 56.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock valued at $5,800,000 after purchasing an additional 40,209 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GH. The Goldman Sachs Group initiated coverage on shares of Guardant Health in a report on Friday, June 5th. They set a “buy” rating and a $165.00 target price for the company. TD Cowen reiterated a “buy” rating on shares of Guardant Health in a research note on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research report on Tuesday, April 21st. Guggenheim lowered Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday, May 28th. Finally, Royal Bank Of Canada assumed coverage on Guardant Health in a report on Thursday, June 11th. They issued an “outperform” rating and a $185.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.95.

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.