Guardant Health (NASDAQ:GH) Shares Down 5.2% - Should You Sell?

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s share price dropped 5.2% during mid-day trading on Monday . The stock traded as low as $42.58 and last traded at $42.14. Approximately 202,277 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,456,948 shares. The stock had previously closed at $44.47.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays assumed 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. Sanford C. Bernstein cut their target price on shares of Guardant Health from $40.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target 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. Guggenheim restated a "buy" rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Finally, Leerink Partners dropped their price objective on shares of Guardant Health from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Sixteen analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $42.63.

Guardant Health Trading Up 3.5 %

The business's fifty day moving average price is $38.79 and its 200 day moving average price is $31.03. The company has a market capitalization of $5.80 billion, a P/E ratio of -11.08 and a beta of 1.32.

Insider Transactions 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 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 trade represents a 46.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 2,652 shares of company stock valued at $93,192. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Guardant Health by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company's stock worth $368,205,000 after buying an additional 350,606 shares during the period. Wellington Management Group LLP boosted its stake in Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company's stock worth $232,325,000 after acquiring an additional 6,618,785 shares during the last quarter. Eventide Asset Management LLC boosted its stake in 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 last quarter. Geode Capital Management LLC boosted its stake in Guardant Health by 1.1% during 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 during the last quarter. Finally, ARK Investment Management LLC lifted its stake in Guardant Health by 233.5% in the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company's stock valued at $34,701,000 after buying an additional 1,059,104 shares in the last quarter. 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.