Guardant Health (NASDAQ:GH) Shares Gap Down to $26.79

Guardant Health, Inc. (NASDAQ:GH)’s share price gapped down before the market opened on Monday . The stock had previously closed at $26.79, but opened at $23.08. Guardant Health shares last traded at $24.11, with a volume of 992,989 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Craig Hallum lifted their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. BTIG Research raised their price target on Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price objective on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Guggenheim raised shares of 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. Finally, Citigroup boosted their price objective on shares of Guardant Health from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.31.

Guardant Health Stock Performance

The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -6.32 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 company’s 50-day moving average price is $29.10 and its two-hundred day moving average price is $24.97.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The firm had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.67) earnings per share. On average, equities research analysts anticipate that Guardant Health, Inc. will post -3.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in Guardant Health during the second quarter valued at about $44,000. Canton Hathaway LLC purchased a new position in Guardant Health in the 2nd quarter valued at approximately $59,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health during the second quarter worth $71,000. Byrne Asset Management LLC bought a new position in shares of Guardant Health in the second quarter worth $77,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Guardant Health in the first quarter valued at $57,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.