Chris Freeman Sells 63,605 Shares of Guardant Health (NASDAQ:GH) Stock

Key Points

• Guardant Health insider Chris Freeman sold 63,605 shares at an average price of $169.58, generating approximately $10.79 million. The transaction reduced Freeman’s position by 49.31%, leaving 65,374 shares.
• Guardant Health shares fell 1.3% to $165.09, but remain near their 52-week high of $176.58 and well above their 50-day and 200-day moving averages.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $183.78; 92.6% of the company’s stock is owned by institutional investors.

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the transaction, the insider owned 65,374 shares of the company's stock, valued at $11,086,122.92. The trade was a 49.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Chris Freeman also recently made the following trade(s):

• On Friday, May 22nd, Chris Freeman sold 24,406 shares of Guardant Health stock. The shares were sold at an average price of $118.67, for a total value of $2,896,260.02.

Guardant Health Trading Down 1.3%

NASDAQ:GH traded down $2.12 on Tuesday, hitting $165.09. The company's stock had a trading volume of 1,300,019 shares, compared to its average volume of 2,305,035. Guardant Health, Inc. has a one year low of $53.40 and a one year high of $176.58. The firm has a market capitalization of $22.16 billion, a P/E ratio of -47.30 and a beta of 1.60. The stock has a fifty day moving average of $147.78 and a two-hundred day moving average of $115.59.

Analyst Upgrades and Downgrades

GH has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 price objective on shares of Guardant Health in a research report on Friday, July 31st. Bank of America lifted their target price on shares of Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Guggenheim upped their price target on shares of Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. TD Cowen raised their price objective on shares of Guardant Health from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Mizuho boosted their price objective on Guardant Health from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $183.78.

Institutional Trading of Guardant Health

A number of institutional investors have recently modified their holdings of GH. V Square Quantitative Management LLC bought a new position in shares of Guardant Health in the fourth quarter worth $27,000. TrinityBridge Ltd acquired a new stake in Guardant Health during the second quarter worth about $45,000. Elyxium Wealth LLC acquired a new stake in Guardant Health during the fourth quarter worth about $35,000. Parallel Advisors LLC grew its stake in Guardant Health by 164.7% during the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company's stock worth $36,000 after buying an additional 219 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in Guardant Health in the 2nd quarter valued at about $59,000. 92.60% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source