Key Points
- Guardant Health director Steve Krognes sold 9,294 shares on June 4 at an average price of $132.51, totaling about $1.23 million. After the sale, he still held 10,222 shares, a 47.62% reduction in his ownership.
- The stock was down 5.6% in Friday trading, opening at $125.61 after recently reaching a 12-month high of $134.28. Guardant Health now has a market cap of $16.66 billion.
- Analyst sentiment remains mostly bullish, with several firms reiterating or initiating “outperform” or “buy” ratings and a consensus price target of $137.80. However, Weiss Ratings kept a “sell (d-)” view on the stock.
Guardant Health, Inc. (NASDAQ:GH - Get Free Report) Director Steve Krognes sold 9,294 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $132.51, for a total value of $1,231,547.94. Following the completion of the sale, the director owned 10,222 shares of the company's stock, valued at approximately $1,354,517.22. This represents a 47.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Guardant Health Trading Down 5.6%
Shares of NASDAQ GH opened at $125.61 on Friday. Guardant Health, Inc. has a 12-month low of $40.35 and a 12-month high of $134.28. The company has a market cap of $16.66 billion, a P/E ratio of -37.05 and a beta of 1.61. The stock has a fifty day moving average price of $99.39 and a 200 day moving average price of $101.08.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Wolfe Research assumed coverage on Guardant Health in a research note on Tuesday. They set an "outperform" rating and a $150.00 target price for the company. Leerink Partners raised their target price on Guardant Health from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Robert W. Baird assumed coverage on Guardant Health in a research note on Tuesday, February 17th. They set an "outperform" rating and a $120.00 target price for the company. The Goldman Sachs Group assumed coverage on Guardant Health in a research note on Friday. They set a "buy" rating and a $165.00 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Guardant Health in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $137.80.
Check Out Our Latest Stock Analysis on Guardant Health
Hedge Funds Weigh In On Guardant Health
Hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Guardant Health in the fourth quarter worth about $27,000. Chesapeake Asset Management LLC acquired a new position in Guardant Health in the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Guardant Health in the fourth quarter worth about $31,000. Elyxium Wealth LLC acquired a new position in Guardant Health in the fourth quarter worth about $35,000. Finally, Parallel Advisors LLC grew its stake in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company's stock worth $36,000 after purchasing an additional 219 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.
About Guardant Health
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
