Insider Selling: Guardant Health (NASDAQ:GH) Director Sells $1,269,800.00 in Stock

Guardant Health, Inc. (NASDAQ:GH) Director Meghan Joyce sold 10,000 shares of Guardant Health stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $126.98, for a total value of $1,269,800.00. Following the completion of the transaction, the director owned 11,183 shares of the company’s stock, valued at $1,420,017.34. This trade represents a 47.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guardant Health Stock Performance

NASDAQ:GH opened at $125.61 on Friday. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of -37.05 and a beta of 1.61. Guardant Health, Inc. has a one year low of $40.35 and a one year high of $134.28. The stock has a 50-day simple moving average of $99.39 and a 200 day simple moving average of $101.08.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GH shares. Raymond James Financial restated an “outperform” rating and issued a $129.00 target price on shares of Guardant Health in a research note on Monday, February 23rd. Evercore upgraded Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Tuesday. Guggenheim downgraded Guardant Health from a “buy” rating to a “buy” rating in a research note on Thursday, May 28th. Citigroup lifted their target price on Guardant Health from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, TD Cowen restated a “buy” rating on shares of Guardant Health in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Guardant Health has a consensus rating of “Buy” and an average price target of $137.80.

Hedge Funds Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Guardant Health by 19.5% during the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares during the period. Eastern Bank boosted its position in shares of Guardant Health by 6.9% during the fourth quarter. Eastern Bank now owns 2,160 shares of the company’s stock worth $221,000 after buying an additional 139 shares during the period. First Pacific Financial boosted its position in shares of Guardant Health by 33.1% during the first quarter. First Pacific Financial now owns 559 shares of the company’s stock worth $52,000 after buying an additional 139 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Guardant Health by 3.2% during the third quarter. TD Waterhouse Canada Inc. now owns 4,891 shares of the company’s stock worth $306,000 after buying an additional 151 shares during the period. Finally, Xponance LLC boosted its position in shares of Guardant Health by 2.1% during the fourth quarter. Xponance LLC now owns 9,630 shares of the company’s stock worth $984,000 after buying an additional 199 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.