Guardant Health (NASDAQ:GH) Shares Down 2.5%

Guardant Health, Inc. (NASDAQ:GH)’s stock price was down 2.5% during mid-day trading on Wednesday . The stock traded as low as $28.11 and last traded at $28.16. Approximately 134,194 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 2,023,016 shares. The stock had previously closed at $28.87.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group started coverage on Guardant Health in a report on Monday, June 3rd. They set a “buy” rating and a $32.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $44.00 price target on shares of Guardant Health in a research note on Friday, May 24th. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Friday, June 28th. Craig Hallum initiated coverage on Guardant Health in a research report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on Guardant Health from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and an average target price of $36.83.

Guardant Health Price Performance

The business has a fifty day moving average price of $25.85 and a 200-day moving average price of $23.01. The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.94). The business had revenue of $168.49 million during the quarter, compared to analysts’ expectations of $150.51 million. Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. As a group, sell-side analysts predict that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new position in shares of Guardant Health during the first quarter worth $57,000. Headlands Technologies LLC increased its holdings in shares of Guardant Health by 362.3% during the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after buying an additional 1,844 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Guardant Health by 29.4% during the fourth quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock worth $73,000 after buying an additional 614 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Guardant Health during the first quarter worth $75,000. Finally, AXQ Capital LP acquired a new position in shares of Guardant Health during the third quarter worth $202,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.