Guardant Health (NASDAQ:GH) Shares Down 9.5% - Should You Sell?

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s stock price traded down 9.5% during mid-day trading on Monday . The stock traded as low as $36.00 and last traded at $35.58. 926,010 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 2,111,494 shares. The stock had previously closed at $39.32.

Analyst Ratings Changes

GH has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Guardant Health from $42.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Scotiabank increased their price objective on shares of Guardant Health from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. Piper Sandler increased their price objective on shares of Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Stifel Nicolaus increased their price objective on shares of Guardant Health from $45.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Morgan Stanley increased their price objective on shares of Guardant Health from $42.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Twenty analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $48.40.

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Guardant Health Price Performance

The stock's 50-day moving average is $42.83 and its 200 day moving average is $32.74. The company has a market cap of $5.24 billion, a PE ratio of -11.93 and a beta of 1.50.

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

Institutional Trading of Guardant Health

Several institutional investors have recently modified their holdings of GH. State of New Jersey Common Pension Fund D grew its holdings in Guardant Health by 4.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 74,180 shares of the company's stock worth $1,702,000 after acquiring an additional 2,894 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Guardant Health during the 3rd quarter worth $34,000. Sumitomo Mitsui Trust Group Inc. raised its position in 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 buying an additional 1,137,482 shares during the last quarter. Aigen Investment Management LP raised its position in Guardant Health by 23.9% during the 3rd quarter. Aigen Investment Management LP now owns 19,103 shares of the company's stock worth $438,000 after buying an additional 3,683 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in Guardant Health during the 3rd quarter worth $229,000. Institutional investors and hedge funds own 92.60% of the company's stock.

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.