Guardant Health, Inc. (NASDAQ:GH) Short Interest Update

Guardant Health, Inc. (NASDAQ:GH) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 9,390,000 shares, a drop of 8.5% from the October 31st total of 10,260,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the short-interest ratio is presently 4.4 days.

Guardant Health Price Performance

GH traded up $0.26 on Tuesday, hitting $35.78. 951,564 shares of the company’s stock were exchanged, compared to its average volume of 2,057,070. The firm has a 50-day moving average price of $25.46 and a 200-day moving average price of $27.43. The company has a current ratio of 6.22, a quick ratio of 5.85 and a debt-to-equity ratio of 16.70. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -8.38 and a beta of 1.25. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $37.04.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The firm had revenue of $191.48 million for the quarter, compared to analyst estimates of $170.49 million. During the same period in the previous year, the firm posted ($0.73) EPS. The company’s revenue was up 33.9% compared to the same quarter last year. As a group, equities analysts anticipate that Guardant Health will post -3.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GH. Piper Sandler lifted their price objective on shares of Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Sanford C. Bernstein decreased their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen lifted their target price on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Insider Activity

In related news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of the sale, the director now directly owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky increased its stake in Guardant Health by 7.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 152,986 shares of the company’s stock worth $3,156,000 after purchasing an additional 10,000 shares during the period. Fiduciary Alliance LLC purchased a new stake in Guardant Health during the second quarter worth about $319,000. Canton Hathaway LLC purchased a new stake in Guardant Health during the second quarter worth about $59,000. Byrne Asset Management LLC purchased a new stake in Guardant Health during the second quarter worth about $77,000. Finally, Fullcircle Wealth LLC purchased a new stake in Guardant Health during the second quarter worth about $211,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Company Profile

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.