Guardant Health (NASDAQ:GH) Trading Down 9.5% – Time to Sell?

Guardant Health, Inc. (NASDAQ:GH)’s stock price fell 9.5% during trading on Monday . The company traded as low as $36.00 and last traded at $35.58. 926,010 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 2,111,494 shares. The stock had previously closed at $39.32.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GH. The Goldman Sachs Group upped their price objective on Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Piper Sandler raised their price objective on Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Barclays started coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They set an “overweight” rating and a $60.00 target price for the company. Stifel Nicolaus lifted their price target on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Scotiabank raised their target price on shares of Guardant Health from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Twenty analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $48.40.

Guardant Health Stock Down 8.9 %

The company has a market cap of $4.42 billion, a P/E ratio of -10.07 and a beta of 1.50. The company has a 50 day moving average price of $42.06 and a 200-day moving average price of $32.46.

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

Insider Activity at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the transaction, the director now directly owns 2,676 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,668 shares of company stock worth $95,208 over the last quarter. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guardant Health

Several large investors have recently made changes to their positions in GH. NewEdge Advisors LLC boosted its stake in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Guardant Health by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after purchasing an additional 391 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Guardant Health by 1.1% in the 4th quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock valued at $1,089,000 after purchasing an additional 403 shares during the period. Jones Financial Companies Lllp increased its stake in Guardant Health by 43.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock worth $82,000 after purchasing an additional 817 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in Guardant Health by 7.6% during the 4th quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock worth $363,000 after buying an additional 836 shares during the period. Institutional investors 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.