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

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 7,790,000 shares, a decrease of 5.6% from the December 15th total of 8,250,000 shares. Based on an average daily volume of 1,810,000 shares, the short-interest ratio is presently 4.3 days.

Wall Street Analysts Forecast Growth

GH has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of Guardant Health from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Sanford C. Bernstein lowered their price objective on Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Finally, Leerink Partners cut their target price 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. Fifteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $40.60.

Guardant Health Stock Down 1.7 %

Shares of NASDAQ GH traded down $0.65 during trading hours on Friday, hitting $36.66. The company had a trading volume of 1,139,276 shares, compared to its average volume of 1,484,663. Guardant Health has a 1-year low of $15.81 and a 1-year high of $39.29. The firm's 50 day moving average is $33.76 and its 200-day moving average is $28.95. The stock has a market capitalization of $4.53 billion, a P/E ratio of -8.65 and a beta of 1.28.

Guardant Health (NASDAQ:GH - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.33). The business had revenue of $191.48 million during the quarter, compared to analyst estimates of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The business's quarterly revenue was up 33.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.73) earnings per share. On average, sell-side analysts predict that Guardant Health will post -3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the 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 transaction, the director now owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Musa Tariq sold 2,320 shares of the business's stock in a transaction on 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 approximately $93,660. This represents a 46.44 % 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 in the last three months. Insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GH. Wellington Management Group LLP lifted its holdings 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 worth $232,325,000 after buying an additional 6,618,785 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Guardant Health by 1,282.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company's stock worth $28,128,000 after purchasing an additional 1,137,482 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company's stock worth $34,701,000 after buying an additional 1,059,104 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Guardant Health during the 3rd quarter worth $21,389,000. Finally, Lord Abbett & CO. LLC bought a new position in Guardant Health in the third quarter valued at about $15,624,000. 92.60% of the stock is owned by institutional investors.

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.