Guardant Health (NASDAQ:GH) Shares Gap Down - Time to Sell?

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $46.09, but opened at $44.52. Guardant Health shares last traded at $44.77, with a volume of 2,540,438 shares changing hands.

Analyst Upgrades and Downgrades

GH has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Guardant Health from $36.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Guggenheim reissued a "buy" rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Leerink Partners lowered their price objective on shares of 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. boosted their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Finally, Barclays assumed coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They issued an "overweight" rating and a $60.00 price target for the company. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Guardant Health currently has an average rating of "Buy" and a consensus target price of $42.63.

Guardant Health Stock Down 1.6 %

The stock has a market cap of $5.40 billion, a price-to-earnings ratio of -10.33 and a beta of 1.32. The stock's 50 day moving average price is $38.30 and its two-hundred day moving average price is $30.74.

Insider Buying and Selling

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the transaction, the director now directly owns 7,648 shares of the company's stock, valued at $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Musa Tariq sold 2,320 shares of the stock in a transaction 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 transaction, the director now directly owns 2,676 shares in the company, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,548 shares of company stock valued at $179,782. Corporate insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Guardant Health

Institutional investors have recently bought and sold shares of the company. JNBA Financial Advisors purchased a new stake in shares of Guardant Health in the 3rd quarter valued at approximately $26,000. R Squared Ltd purchased a new stake in Guardant Health during the 4th quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in Guardant Health during the 3rd quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in Guardant Health during the 4th quarter worth approximately $43,000. Finally, Kimelman & Baird LLC purchased a new stake in Guardant Health during the 4th quarter worth approximately $58,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.