Guardant Health Sees Unusually Large Options Volume (NASDAQ:GH)

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) was the recipient of unusually large options trading on Friday. Investors acquired 4,097 call options on the company. This represents an increase of approximately 78% compared to the average volume of 2,301 call options.

Guardant Health Stock Down 0.7 %

NASDAQ:GH traded down $0.32 during midday trading on Tuesday, hitting $42.58. The company had a trading volume of 533,106 shares, compared to its average volume of 2,476,470. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89. The stock's fifty day moving average price is $43.15 and its 200-day moving average price is $33.06. The company has a market capitalization of $5.26 billion, a PE ratio of -11.96 and a beta of 1.50.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GH shares. Piper Sandler boosted their target price on Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Raymond James reiterated an "outperform" rating and issued a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Canaccord Genuity Group upped their price objective on Guardant Health from $42.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Finally, Guggenheim reissued a "buy" rating and set a $56.00 target price on shares of Guardant Health in a report on Monday, February 24th. Twenty analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $48.40.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GH. Lord Abbett & CO. LLC purchased a new stake in Guardant Health during the third quarter valued at about $15,624,000. Guyasuta Investment Advisors Inc. purchased a new stake in Guardant Health during the fourth quarter valued at about $206,000. Cerity Partners LLC boosted its position in Guardant Health by 54.6% during the third quarter. Cerity Partners LLC now owns 195,008 shares of the company's stock valued at $4,473,000 after buying an additional 68,883 shares during the period. Geode Capital Management LLC boosted its position in Guardant Health by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company's stock valued at $64,754,000 after buying an additional 29,686 shares during the period. Finally, Entropy Technologies LP purchased a new stake in Guardant Health during the fourth quarter valued at about $377,000. 92.60% of the stock is currently owned by hedge funds and other 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.