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

Guardant Health, Inc. (NASDAQ:GH) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 5,770,000 shares, a drop of 21.6% from the January 15th total of 7,360,000 shares. Based on an average daily volume of 2,160,000 shares, the short-interest ratio is presently 2.7 days.

Insider Buying and Selling

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 2,652 shares of company stock valued at $93,192. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GH. Vanguard Group Inc. increased its position in Guardant Health by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock worth $368,205,000 after acquiring an additional 350,606 shares during the period. Wellington Management Group LLP increased its position in shares of Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after purchasing an additional 6,618,785 shares in the last quarter. Deep Track Capital LP boosted its position in Guardant Health by 7.0% in the fourth quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock valued at $196,118,000 after buying an additional 419,006 shares in the last quarter. Eventide Asset Management LLC grew its stake in Guardant Health by 2.0% during the third quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock worth $88,028,000 after buying an additional 76,762 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Guardant Health by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after buying an additional 29,686 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Price Performance

GH traded up $1.14 during trading on Monday, reaching $48.12. 2,129,865 shares of the stock traded hands, compared to its average volume of 2,321,910. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The stock’s 50-day simple moving average is $39.02 and its two-hundred day simple moving average is $31.05. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -11.35 and a beta of 1.32.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GH shares. JPMorgan Chase & Co. upped their price target on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays started coverage on shares of Guardant Health in a report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective on the stock. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 22nd. Sanford C. Bernstein decreased their target price on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on shares of Guardant Health from $36.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Sixteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $42.63.

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.