Guardant Health (NASDAQ:GH) Shares Down 9.5% – What’s Next?

Guardant Health, Inc. (NASDAQ:GH) shares dropped 9.5% on Monday . The stock traded as low as $36.00 and last traded at $35.58. Approximately 926,010 shares changed hands during trading, a decline of 56% from the average daily volume of 2,111,494 shares. The stock had previously closed at $39.32.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GH. Canaccord Genuity Group increased their price objective on shares of Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Stifel Nicolaus increased their price target on shares of Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Raymond James restated an “outperform” rating and set a $59.00 price objective (up from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their target price on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Piper Sandler boosted their price target on Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Twenty equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Guardant Health has an average rating of “Buy” and a consensus target price of $48.40.

Guardant Health Stock Performance

The stock’s 50 day moving average price is $42.16 and its 200 day moving average price is $32.51. The company has a market capitalization of $5.47 billion, a P/E ratio of -12.41 and a beta of 1.50.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). The business had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. On average, analysts expect that Guardant Health, Inc. will post -2.9 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the sale, the director now owns 2,676 shares in the company, valued at $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 2,668 shares of company stock valued at $95,208 in the last quarter. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Guardant Health

Several hedge funds have recently bought and sold shares of GH. R Squared Ltd acquired a new position in shares of Guardant Health during the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in Guardant Health during the 3rd quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new stake in Guardant Health during the 4th quarter worth approximately $43,000. Kimelman & Baird LLC purchased a new stake in shares of Guardant Health in the fourth quarter worth approximately $58,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after purchasing an additional 230 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.