Guardant Health Inc (NASDAQ:GH) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 3,380,000 shares, a growth of 25.7% from the August 30th total of 2,690,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 8.0% of the shares of the company are short sold.
In related news, major shareholder Vision Fund (Aiv M1) Softbank sold 4,900,000 shares of Guardant Health stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $77.00, for a total transaction of $377,300,000.00. Also, Director Stanley J. Meresman sold 10,000 shares of Guardant Health stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $73.69, for a total transaction of $736,900.00. Insiders sold 5,934,867 shares of company stock worth $480,037,506 over the last quarter. 13.00% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Advantage Investment Management LLC grew its holdings in Guardant Health by 200.0% during the second quarter. Advantage Investment Management LLC now owns 450 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the period. HM Payson & Co. acquired a new position in Guardant Health during the second quarter worth about $43,000. Oppenheimer Asset Management Inc. acquired a new position in Guardant Health during the second quarter worth about $62,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Guardant Health during the second quarter worth about $76,000. Finally, FNY Investment Advisers LLC grew its holdings in Guardant Health by 7,816.7% during the second quarter. FNY Investment Advisers LLC now owns 950 shares of the company’s stock worth $82,000 after acquiring an additional 938 shares during the period. 81.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Guardant Health from $90.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Cowen set a $110.00 price objective on shares of Guardant Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Canaccord Genuity restated a “buy” rating and set a $125.00 price objective (up from $96.00) on shares of Guardant Health in a research note on Wednesday, August 7th. Finally, Zacks Investment Research upgraded shares of Guardant Health from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $104.40.
Shares of NASDAQ GH traded up $1.00 during midday trading on Friday, reaching $61.56. 719,714 shares of the company traded hands, compared to its average volume of 1,665,044. Guardant Health has a 52 week low of $31.01 and a 52 week high of $112.21. The stock has a 50-day moving average price of $76.07 and a 200 day moving average price of $81.08. The company has a market cap of $5.72 billion and a price-to-earnings ratio of -21.99.
Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The business had revenue of $53.98 million for the quarter, compared to analysts’ expectations of $35.97 million. Guardant Health had a negative net margin of 60.08% and a negative return on equity of 22.93%. The company’s revenue was up 178.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.75) earnings per share. As a group, equities analysts anticipate that Guardant Health will post -1.27 earnings per share for the current fiscal year.
About Guardant Health
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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