Guardant Health (NASDAQ:GH – Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Thursday,Zacks.com reports.
GH has been the topic of several other reports. Robert W. Baird initiated coverage on Guardant Health in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $120.00 target price on the stock. Raymond James Financial restated an “outperform” rating and set a $129.00 price target on shares of Guardant Health in a research note on Monday, February 23rd. Canaccord Genuity Group increased their price target on Guardant Health from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research note on Tuesday, April 21st. Finally, BTIG Research set a $160.00 price objective on shares of Guardant Health and gave the stock a “buy” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and an average price target of $141.95.
Guardant Health Stock Up 0.6%
Insider Transactions at Guardant Health
In related news, CEO Amirali Talasaz sold 210,000 shares of Guardant Health stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the completion of the transaction, the chief executive officer directly owned 1,886,504 shares of the company’s stock, valued at approximately $207,307,924.56. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John G. Saia sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $106.51, for a total value of $2,130,200.00. Following the sale, the insider owned 45,950 shares in the company, valued at approximately $4,894,134.50. The trade was a 30.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 452,238 shares of company stock worth $51,425,612 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Guardant Health
Several institutional investors and hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC grew its stake in Guardant Health by 87.5% in the 1st quarter. Perceptive Advisors LLC now owns 300,000 shares of the company’s stock valued at $27,711,000 after acquiring an additional 140,000 shares during the last quarter. BankChampaign National Association acquired a new position in Guardant Health during the first quarter worth about $809,000. Western Wealth Management LLC acquired a new position in Guardant Health during the first quarter worth about $125,000. Hamilton Wealth LLC lifted its holdings in shares of Guardant Health by 103.0% in the first quarter. Hamilton Wealth LLC now owns 76,700 shares of the company’s stock valued at $7,085,000 after purchasing an additional 38,916 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in shares of Guardant Health by 321.6% in the first quarter. Edgestream Partners L.P. now owns 32,257 shares of the company’s stock valued at $2,980,000 after purchasing an additional 24,606 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.
About Guardant Health
Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.
The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.
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