Guardant Health (NASDAQ:GH) Stock Price Up 3.4%

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s stock price traded up 3.4% on Wednesday . The stock traded as high as $16.88 and last traded at $16.71. 786,617 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,890,139 shares. The stock had previously closed at $16.16.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GH shares. Guggenheim reaffirmed a "neutral" rating on shares of Guardant Health in a research note on Friday, April 5th. The Goldman Sachs Group lowered their price target on Guardant Health from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Monday. Piper Sandler cut their price objective on Guardant Health from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, February 26th. JPMorgan Chase & Co. lowered their target price on Guardant Health from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. Finally, Canaccord Genuity Group reduced their price target on shares of Guardant Health from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Guardant Health presently has a consensus rating of "Moderate Buy" and an average price target of $40.40.

Guardant Health Stock Up 1.4 %

The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The firm's fifty day simple moving average is $19.57 and its 200-day simple moving average is $23.45. The company has a market cap of $1.99 billion, a PE ratio of -3.83 and a beta of 0.87.

Guardant Health (NASDAQ:GH - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.93) by ($0.65). The firm had revenue of $155.05 million during the quarter, compared to analysts' expectations of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. As a group, equities research analysts expect that Guardant Health, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kumud Kalia acquired 2,187 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the transaction, the insider now directly owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

A number of large investors have recently made changes to their positions in GH. Vanguard Group Inc. lifted its position in shares of Guardant Health by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company's stock worth $301,084,000 after buying an additional 180,424 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Guardant Health by 24.1% during the fourth quarter. Wellington Management Group LLP now owns 834,084 shares of the company's stock valued at $22,562,000 after purchasing an additional 161,986 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Guardant Health in the 4th quarter valued at $233,000. Teachers Retirement System of The State of Kentucky bought a new stake in Guardant Health during the 4th quarter worth approximately $3,868,000. Finally, Eventide Asset Management LLC lifted its position in Guardant Health by 8.3% during the 4th quarter. Eventide Asset Management LLC now owns 3,888,146 shares of the company's stock worth $105,174,000 after buying an additional 298,616 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.