Guardant Health (NASDAQ:GH) Director Musa Tariq Sells 116 Shares of Stock

Key Points

• Guardant Health director Musa Tariq sold 116 shares at an average price of $156.45, generating $18,148.20 under a pre-arranged Rule 10b5-1 plan. His remaining stake fell 1.01% to 11,316 shares.
• Guardant Health shares traded down 1.0% to $160.12, while the company reported quarterly revenue of $334.98 million—up 44.3% year over year—and an adjusted loss of $0.42 per share, beating analyst expectations.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $183.78; institutional investors own 92.6% of the company.

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) Director Musa Tariq sold 116 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $156.45, for a total transaction of $18,148.20. Following the transaction, the director owned 11,316 shares of the company's stock, valued at $1,770,388.20. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Musa Tariq also recently made the following trade(s):

• On Monday, June 22nd, Musa Tariq sold 1,951 shares of Guardant Health stock. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16.
• On Tuesday, June 16th, Musa Tariq sold 116 shares of Guardant Health stock. The stock was sold at an average price of $130.19, for a total value of $15,102.04.

Guardant Health Trading Down 1.0%

NASDAQ:GH traded down $1.55 during trading hours on Tuesday, hitting $160.12. 1,201,904 shares of the stock were exchanged, compared to its average volume of 2,312,219. The firm's fifty day moving average price is $151.14 and its 200 day moving average price is $117.22. Guardant Health, Inc. has a 52-week low of $53.40 and a 52-week high of $176.58. The company has a market cap of $21.49 billion, a P/E ratio of -45.88 and a beta of 1.60.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analysts' expectations of $314.23 million. The business's revenue was up 44.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.44) EPS. Equities analysts expect that Guardant Health, Inc. will post -2.98 EPS for the current fiscal year.

Institutional Trading of Guardant Health

Several hedge funds have recently made changes to their positions in the business. ABS Investment Management LLC purchased a new stake in Guardant Health during the 2nd quarter worth about $345,069,000. TrinityBridge Ltd purchased a new position in shares of Guardant Health in the 2nd quarter valued at about $45,000. Elyxium Wealth LLC purchased a new position in shares of Guardant Health in the 4th quarter valued at about $35,000. Parallel Advisors LLC grew its position in shares of 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 purchased a new stake in shares of Guardant Health during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GH. Stifel Nicolaus increased their target price on shares of Guardant Health from $130.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. BTIG Research boosted their price target on shares of Guardant Health from $190.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Stephens upped their price objective on shares of Guardant Health from $170.00 to $195.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of Guardant Health from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Citigroup lifted their target price on shares of Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Guardant Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.78.

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.

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