Guardant Health, Inc. (NASDAQ:GH – Get Free Report)’s stock price was down 3% during mid-day trading on Tuesday after Piper Sandler lowered their price target on the stock from $40.00 to $30.00. Piper Sandler currently has an overweight rating on the stock. Guardant Health traded as low as $19.53 and last traded at $19.54. Approximately 124,397 shares were traded during trading, a decline of 92% from the average daily volume of 1,639,820 shares. The stock had previously closed at $20.14.
A number of other equities research analysts also recently commented on the company. Morgan Stanley lowered their price objective on Guardant Health from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, November 8th. Guggenheim began coverage on Guardant Health in a research report on Thursday, December 14th. They issued a “neutral” rating for the company. The Goldman Sachs Group lowered their price objective on Guardant Health from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, January 29th. JPMorgan Chase & Co. lowered their price objective on Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group lowered their price objective on Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.30.
Insiders Place Their Bets
In other Guardant Health news, insider Kumud Kalia sold 5,800 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $26.37, for a total transaction of $152,946.00. Following the transaction, the insider now owns 5,926 shares in the company, valued at $156,268.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.20% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors lifted its stake in shares of Guardant Health by 33.2% in the second quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock worth $44,000 after acquiring an additional 271 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Guardant Health by 2.1% in the third quarter. Baird Financial Group Inc. now owns 14,580 shares of the company’s stock worth $785,000 after acquiring an additional 296 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Guardant Health by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 48,907 shares of the company’s stock worth $2,633,000 after acquiring an additional 385 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Guardant Health by 2.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,854 shares of the company’s stock worth $500,000 after acquiring an additional 453 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Guardant Health by 3.2% in the third quarter. Amalgamated Bank now owns 17,058 shares of the company’s stock worth $506,000 after acquiring an additional 521 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
Guardant Health Stock Performance
The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The company has a 50 day moving average of $24.09 and a 200 day moving average of $27.19. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -4.71 and a beta of 0.99.
About Guardant Health
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360; Guardant360 LDT; Guardant360 CDx; 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.