Guardant Health, Inc. (NASDAQ:GH) Sees Large Decline in Short Interest

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 8,250,000 shares, a decline of 10.0% from the November 30th total of 9,170,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is currently 4.7 days.

Insider Activity at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares of the company's stock, valued at $93,660. This represents a 46.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 5,432 shares of company stock valued at $175,423 over the last 90 days. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Guardant Health

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of Guardant Health by 188.6% during the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company's stock valued at $232,325,000 after buying an additional 6,618,785 shares during the period. Eventide Asset Management LLC grew its holdings in shares of Guardant Health by 2.0% during the 3rd quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company's stock worth $88,028,000 after acquiring an additional 76,762 shares during the period. Geode Capital Management LLC raised its position in shares of Guardant Health by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company's stock worth $64,754,000 after acquiring an additional 29,686 shares in the last quarter. ARK Investment Management LLC lifted its stake in shares of Guardant Health by 233.5% in the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company's stock valued at $34,701,000 after purchasing an additional 1,059,104 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Guardant Health by 31.8% during the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company's stock valued at $36,973,000 after purchasing an additional 309,157 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GH. The Goldman Sachs Group lifted their price objective on shares of Guardant Health from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Leerink Partners reduced their price target on Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Guardant Health from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein cut their target price on Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Guardant Health presently has an average rating of "Buy" and an average target price of $40.60.

Guardant Health Trading Up 0.0 %

NASDAQ GH traded up $0.01 during trading on Wednesday, hitting $30.55. 1,605,590 shares of the company's stock traded hands, compared to its average volume of 2,018,617. The stock has a fifty day moving average of $30.72 and a two-hundred day moving average of $28.38. Guardant Health has a 12-month low of $15.81 and a 12-month high of $38.53. The firm has a market cap of $3.77 billion, a P/E ratio of -7.21 and a beta of 1.26. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. During the same quarter in the previous year, the firm posted ($0.73) EPS. The business's revenue for the quarter was up 33.9% compared to the same quarter last year. As a group, sell-side analysts expect that Guardant Health will post -3.44 EPS for the current 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.