JPMorgan Chase & Co. Cuts Stock Position in Guardant Health, Inc. (NASDAQ:GH)

JPMorgan Chase & Co. trimmed its position in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 77.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 199,544 shares of the company's stock after selling 672,841 shares during the period. JPMorgan Chase & Co. owned about 0.16% of Guardant Health worth $4,578,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GH. Mirae Asset Global Investments Co. Ltd. increased its position in Guardant Health by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company's stock worth $102,000 after buying an additional 796 shares during the last quarter. JNBA Financial Advisors purchased a new stake in shares of Guardant Health in the third quarter worth $26,000. Wexford Capital LP boosted its position in shares of Guardant Health by 13.0% during the 3rd quarter. Wexford Capital LP now owns 10,081 shares of the company's stock valued at $231,000 after acquiring an additional 1,158 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Guardant Health in the third quarter worth $34,000. Finally, Quarry LP purchased a new position in shares of Guardant Health during the 2nd quarter valued at about $44,000. 92.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Musa Tariq sold 2,320 shares of the business's 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 sale, the director now directly owns 2,676 shares of the company's stock, valued at approximately $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,432 shares of company stock worth $175,423 over the last 90 days. 5.50% of the stock is owned by insiders.

Analyst Ratings Changes

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

Guardant Health Price Performance

Shares of GH stock traded down $0.65 during trading hours on Friday, reaching $36.66. 1,139,276 shares of the company traded hands, compared to its average volume of 1,484,663. Guardant Health, Inc. has a 12-month low of $15.81 and a 12-month high of $39.29. The company has a market cap of $4.53 billion, a P/E ratio of -8.65 and a beta of 1.28. The firm has a 50-day moving average price of $33.76 and a 200 day moving average price of $28.95.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $191.48 million during the quarter, compared to the consensus estimate of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The company's revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.73) earnings per share. Sell-side analysts predict that Guardant Health, Inc. will post -3.44 EPS for the current year.

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.