Guardant Health (NASDAQ:GH) Trading Up 6.4% - What's Next?

Guardant Health, Inc. (NASDAQ:GH - Get Free Report)'s stock price shot up 6.4% during trading on Monday . The stock traded as high as $21.82 and last traded at $21.82. 64,215 shares changed hands during trading, a decline of 97% from the average session volume of 2,038,611 shares. The stock had previously closed at $20.51.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GH shares. BTIG Research boosted their price target on shares of Guardant Health from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Bank of America increased their price target on Guardant Health from $28.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Leerink Partners dropped their price target on Guardant Health from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. TD Cowen upped their price objective on Guardant Health from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Finally, Craig Hallum lifted their target price on Guardant Health from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Guardant Health currently has an average rating of "Moderate Buy" and a consensus target price of $40.31.

Guardant Health Stock Up 8.2 %

The company has a market cap of $2.73 billion, a PE ratio of -5.43 and a beta of 1.11. The stock has a 50-day moving average of $23.61 and a 200-day moving average of $25.63. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The company had revenue of $177.24 million during the quarter, compared to analysts' expectations of $162.59 million. During the same period in the prior year, the business earned ($0.67) earnings per share. The company's revenue for the quarter was up 29.2% compared to the same quarter last year. Sell-side analysts predict that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Guardant Health by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company's stock worth $102,000 after purchasing an additional 796 shares during the period. Oak Ridge Investments LLC boosted its position in Guardant Health by 8.5% during the 1st quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company's stock valued at $382,000 after buying an additional 1,451 shares during the period. Quarry LP purchased a new stake in Guardant Health during the 2nd quarter valued at $44,000. Green Alpha Advisors LLC grew its holdings in Guardant Health by 23.6% in the 3rd quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company's stock worth $201,000 after acquiring an additional 1,674 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its position in shares of Guardant Health by 4.5% in the second quarter. Ensign Peak Advisors Inc now owns 41,450 shares of the company's stock valued at $1,197,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 92.60% of the company's stock.

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.