Guardant Health (NASDAQ:GH) Shares Down 3.8%

Guardant Health, Inc. (NASDAQ:GH)’s stock price traded down 3.8% during mid-day trading on Tuesday . The company traded as low as $22.56 and last traded at $22.60. 1,249,853 shares changed hands during trading, a decline of 41% from the average session volume of 2,122,850 shares. The stock had previously closed at $23.49.

Analysts Set New Price Targets

GH has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on shares of Guardant Health from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Bank of America raised their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Jefferies Financial Group started coverage on Guardant Health in a research note on Monday, June 3rd. They set a “buy” rating and a $32.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Trading Down 4.0 %

The company has a market cap of $2.76 billion, a price-to-earnings ratio of -5.99 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. The business’s 50-day simple moving average is $28.68 and its 200-day simple moving average is $25.13.

Guardant Health (NASDAQ:GH) last released its quarterly 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). The company had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The business’s revenue was up 29.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.67) earnings per share. Research analysts predict that Guardant Health, Inc. will post -3.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Guardant Health in the 2nd quarter worth $71,000. Truist Financial Corp purchased a new stake in shares of Guardant Health during the 2nd quarter worth about $233,000. Quarry LP acquired a new stake in Guardant Health during the 2nd quarter worth approximately $44,000. Creative Planning purchased a new position in Guardant Health in the second quarter valued at approximately $593,000. Finally, Algert Global LLC lifted its position in Guardant Health by 23.2% during the second quarter. Algert Global LLC now owns 90,220 shares of the company’s stock valued at $2,606,000 after buying an additional 17,000 shares in the last quarter. Institutional investors and hedge funds 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.