Guardant Health, Inc. (NASDAQ:GH) Short Interest Update

Guardant Health, Inc. (NASDAQ:GH) was the recipient of a significant 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 trading volume of 2,120,000 shares, the days-to-cover ratio is presently 4.4 days.

Guardant Health Price Performance

GH stock traded up $0.26 during trading on Tuesday, hitting $35.78. 951,564 shares of the company’s stock traded hands, compared to its average volume of 2,057,070. Guardant Health has a 52 week low of $15.81 and a 52 week high of $37.04. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The business has a fifty day simple moving average of $25.46 and a 200 day simple moving average of $27.43. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of -8.38 and a beta of 1.25.

Guardant Health (NASDAQ:GH) last announced its 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 firm had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. During the same period in the prior year, the company posted ($0.73) EPS. The company’s revenue was up 33.9% compared to the same quarter last year. As a group, research analysts expect that Guardant Health will post -3.38 EPS for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the transaction, the director now owns 7,648 shares in the company, valued at approximately $228,675.20. The trade was a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after purchasing an additional 6,618,785 shares during the period. Eventide Asset Management LLC increased its position in Guardant Health by 2.0% during the 3rd quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock valued at $88,028,000 after purchasing an additional 76,762 shares during the period. Geode Capital Management LLC increased its position in Guardant Health by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after purchasing an additional 29,686 shares during the period. ARK Investment Management LLC increased its position in Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after purchasing an additional 1,059,104 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Guardant Health by 31.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after purchasing an additional 309,157 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

GH has been the topic of a number of research reports. UBS Group lifted their target price on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup lifted their target price on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. TD Cowen lifted their target price on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Leerink Partners cut their target price on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein cut their target price on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

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.