Key Points
- Guardant Health insider Chris Freeman sold 24,406 shares on May 22 at an average price of $118.67, generating about $2.9 million. After the sale, he still held 60,034 shares, reducing his ownership by 28.9%.
- The stock has been trading near its 52-week high, opening at $119.85 versus a one-year range of $37.73 to $121.01. Guardant Health also has a market cap of about $15.89 billion.
- Wall Street sentiment remains upbeat, with 19 analysts rating GH a Buy and a consensus price target of $129.53. Several firms recently raised targets, including Citigroup to $150 and Leerink Partners to $180.
Guardant Health, Inc. (NASDAQ:GH - Get Free Report) insider Chris Freeman sold 24,406 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $118.67, for a total value of $2,896,260.02. Following the completion of the transaction, the insider directly owned 60,034 shares in the company, valued at approximately $7,124,234.78. This represents a 28.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Guardant Health Stock Performance
Shares of Guardant Health stock opened at $119.85 on Wednesday. Guardant Health, Inc. has a one year low of $37.73 and a one year high of $121.01. The stock's fifty day moving average is $92.53 and its 200 day moving average is $99.26. The stock has a market cap of $15.89 billion, a P/E ratio of -35.35 and a beta of 1.48.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on GH shares. Citigroup raised their price target on Guardant Health from $135.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 20th. Leerink Partners raised their price target on Guardant Health from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, February 20th. Robert W. Baird started coverage on Guardant Health in a report on Tuesday, February 17th. They set an "outperform" rating and a $120.00 price target on the stock. UBS Group reissued a "buy" rating and set a $175.00 price target on shares of Guardant Health in a report on Friday, January 30th. Finally, Stifel Nicolaus raised their price target on Guardant Health from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 20th. Nineteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Guardant Health has an average rating of "Moderate Buy" and a consensus target price of $129.53.
View Our Latest Report on Guardant Health
Institutional Investors Weigh In On Guardant Health
Institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new position in shares of Guardant Health during the third quarter valued at about $114,421,000. Price T Rowe Associates Inc. MD grew its position in shares of Guardant Health by 33.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company's stock valued at $575,670,000 after purchasing an additional 1,414,441 shares in the last quarter. Norges Bank purchased a new position in shares of Guardant Health during the fourth quarter valued at about $128,499,000. Summit Partners Public Asset Management LLC grew its position in shares of Guardant Health by 674.5% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company's stock valued at $87,019,000 after purchasing an additional 741,958 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Guardant Health by 26.1% during the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company's stock valued at $182,836,000 after purchasing an additional 606,368 shares in the last quarter. 92.60% of the stock is owned by institutional investors.
Guardant Health Company Profile
(
Get Free Report)
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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