Meghan Joyce Sells 10,000 Shares of Guardant Health (NASDAQ:GH) Stock

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

Guardant Health Price Performance

Guardant Health stock opened at $125.61 on Friday. Guardant Health, Inc. has a 12-month low of $40.35 and a 12-month high of $134.28. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of -37.05 and a beta of 1.61. The firm’s fifty day moving average price is $99.39 and its 200 day moving average price is $101.08.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GH. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wolfe Research began coverage on shares of Guardant Health in a research note on Tuesday. They set an “outperform” rating and a $150.00 price target on the stock. Evercore raised shares of Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price target on the stock in a research note on Tuesday. BTIG Research set a $160.00 price target on shares of Guardant Health and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group began coverage on shares of Guardant Health in a research note on Friday. They set a “buy” rating and a $165.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.80.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GH. V Square Quantitative Management LLC acquired a new position in Guardant Health during the 4th quarter worth $27,000. Chesapeake Asset Management LLC acquired a new position in Guardant Health during the 4th quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Guardant Health during the 4th quarter worth $31,000. Elyxium Wealth LLC acquired a new position in Guardant Health during the 4th quarter worth $35,000. Finally, Parallel Advisors LLC grew its holdings in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 219 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

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.