Key Points
- Guardant Health insider Chris Freeman sold 63,605 shares at an average price of $169.58, generating approximately $10.8 million. The sale reduced his position by 49.31%, leaving him with 65,374 shares.
- Guardant Health shares opened at $165.09, with a market capitalization of $22.15 billion, and have traded between $53.40 and $176.58 over the past year.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $183.78; institutional investors own 92.60% of the company’s stock.
Guardant Health, Inc. (NASDAQ:GH - Get Free Report) insider Chris Freeman sold 63,605 shares of Guardant Health stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $169.58, for a total value of $10,786,135.90. Following the transaction, the insider owned 65,374 shares of the company's stock, valued at $11,086,122.92. The trade was a 49.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Chris Freeman also recently made the following trade(s):
- On Friday, May 22nd, Chris Freeman sold 24,406 shares of Guardant Health stock. The shares were sold at an average price of $118.67, for a total value of $2,896,260.02.
Guardant Health Stock Down 1.3%
NASDAQ:GH opened at $165.09 on Wednesday. Guardant Health, Inc. has a 12-month low of $53.40 and a 12-month high of $176.58. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of -47.30 and a beta of 1.60. The stock's 50 day moving average price is $148.48 and its two-hundred day moving average price is $115.94.
Institutional Trading of Guardant Health
Several institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new position in Guardant Health in the 3rd quarter valued at $114,421,000. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $575,670,000 after buying an additional 1,414,441 shares in the last quarter. Norges Bank acquired a new stake in shares of Guardant Health during the fourth quarter worth $128,499,000. Summit Partners Public Asset Management LLC boosted its position in shares of Guardant Health by 674.5% in 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 acquiring an additional 741,958 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Guardant Health by 89.6% in the first quarter. The Manufacturers Life Insurance Company now owns 1,205,701 shares of the company's stock valued at $111,371,000 after acquiring an additional 569,766 shares during the period. 92.60% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on Guardant Health from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $135.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Evercore reissued an "outperform" rating and issued a $200.00 price objective on shares of Guardant Health in a research report on Monday, July 6th. Stephens raised their target price on shares of Guardant Health from $170.00 to $195.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Finally, Wolfe Research initiated coverage on shares of Guardant Health in a report on Tuesday, June 2nd. They set an "outperform" rating and a $150.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Guardant Health presently has an average rating of "Moderate Buy" and a consensus price target of $183.78.
Read Our Latest Stock Analysis on Guardant Health
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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