Guardant Health (NASDAQ:GH) Shares Gap Down to $26.79

Guardant Health, Inc. (NASDAQ:GH) gapped down prior to trading on Monday . The stock had previously closed at $26.79, but opened at $23.08. Guardant Health shares last traded at $24.11, with a volume of 992,989 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GH shares. JPMorgan Chase & Co. upped their target price on shares of Guardant Health from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. The Goldman Sachs Group increased their target price on Guardant Health from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. UBS Group boosted their price target on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. BTIG Research increased their price objective on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler lifted their price objective on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Guardant Health has an average rating of “Moderate Buy” and an average price target of $39.31.

Guardant Health Stock Down 9.3 %

The business’s fifty day simple moving average is $29.20 and its 200 day simple moving average is $24.88. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -6.15 and a beta of 1.11. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The company had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. Guardant Health’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.67) EPS. Equities analysts forecast that Guardant Health, Inc. will post -3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of Guardant Health during the second quarter worth $44,000. Canton Hathaway LLC bought a new position in Guardant Health during the 2nd quarter worth about $59,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Guardant Health in the 2nd quarter valued at about $71,000. Byrne Asset Management LLC bought a new stake in shares of Guardant Health in the second quarter valued at about $77,000. Finally, Manchester Capital Management LLC bought a new stake in shares of Guardant Health in the first quarter valued at about $57,000. 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.