Guardant Health, Inc. (NASDAQ:GH) Sees Significant Drop in Short Interest

Guardant Health, Inc. (NASDAQ:GHGet Free Report) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 9,390,000 shares, a decline of 8.5% from the October 31st total of 10,260,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the days-to-cover ratio is presently 4.4 days.

Guardant Health Stock Up 0.7 %

Guardant Health stock opened at $35.78 on Wednesday. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -8.44 and a beta of 1.26. The firm has a 50 day simple moving average of $25.72 and a 200 day simple moving average of $27.50. Guardant Health has a 1-year low of $15.81 and a 1-year high of $37.04. The company has a current ratio of 6.22, a quick ratio of 5.85 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GHGet Free Report) last announced 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). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $191.48 million for the quarter, compared to the consensus estimate of $170.49 million. During the same quarter in the prior year, the company earned ($0.73) earnings per share. The company’s quarterly revenue was up 33.9% on a year-over-year basis. On average, analysts predict that Guardant Health will post -3.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Meghan V. Joyce sold 2,896 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the transaction, the director now directly owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. This represents a 27.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

Large investors have recently modified their holdings of the business. JNBA Financial Advisors bought a new stake in shares of Guardant Health during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC purchased a new stake in Guardant Health during the third quarter valued at about $34,000. Quarry LP bought a new stake in Guardant Health during the second quarter worth about $44,000. Canton Hathaway LLC purchased a new position in shares of Guardant Health in the 2nd quarter worth about $59,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Guardant Health during the 2nd quarter valued at about $71,000. Institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on GH shares. The Goldman Sachs Group boosted their price target on shares of Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler upped their target price on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Sanford C. Bernstein dropped their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. UBS Group boosted their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. raised their target price on Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Get Our Latest Stock Analysis on Guardant Health

Guardant Health Company Profile

(Get Free Report)

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.

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