Guardant Health, Inc. (NASDAQ:GH) Sees Significant Growth in Short Interest

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 7,840,000 shares, a growth of 35.9% from the January 31st total of 5,770,000 shares. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GH shares. Guggenheim reiterated a "buy" rating and issued a $56.00 target price on shares of Guardant Health in a report on Monday, February 24th. 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 price objective for the company. Raymond James reiterated an "outperform" rating and set a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Canaccord Genuity Group raised their target price on shares of Guardant Health from $42.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, Scotiabank upped their price target on shares of Guardant Health from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Monday, February 24th. Twenty equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $48.40.

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Insider Activity

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 value of $81,200.00. Following the completion of the transaction, the director now owns 2,676 shares in the company, valued at approximately $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 2,668 shares of company stock worth $95,208. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guardant Health

Several large investors have recently modified their holdings of GH. International Assets Investment Management LLC increased its holdings in Guardant Health by 2,193.9% during the third quarter. International Assets Investment Management LLC now owns 10,208 shares of the company's stock valued at $2,340,000 after buying an additional 9,763 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Guardant Health by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company's stock valued at $102,000 after acquiring an additional 796 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Guardant Health by 168.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,434 shares of the company's stock worth $79,000 after acquiring an additional 2,153 shares in the last quarter. US Bancorp DE raised its position in shares of Guardant Health by 33.8% in the 3rd quarter. US Bancorp DE now owns 33,022 shares of the company's stock worth $758,000 after acquiring an additional 8,346 shares in the last quarter. Finally, JNBA Financial Advisors purchased a new stake in shares of Guardant Health during the 3rd quarter worth $26,000. Institutional investors own 92.60% of the company's stock.

Guardant Health Stock Performance

GH traded down $0.85 during trading on Friday, hitting $39.32. 2,314,557 shares of the stock were exchanged, compared to its average volume of 2,476,829. The firm has a 50 day simple moving average of $41.88 and a 200 day simple moving average of $32.32. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -11.04 and a beta of 1.50. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The firm had revenue of $201.81 million for the quarter, compared to analysts' expectations of $192.50 million. As a group, equities analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

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.