Guardant Health, Inc. (NASDAQ:GH) Short Interest Down 5.6% in December

Guardant Health, Inc. (NASDAQ:GH) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 7,790,000 shares, a decline of 5.6% from the December 15th total of 8,250,000 shares. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 4.3 days.

Guardant Health Stock Down 1.7 %

NASDAQ:GH opened at $36.66 on Friday. The company has a 50-day moving average price of $33.76 and a 200-day moving average price of $28.95. Guardant Health has a 12 month low of $15.81 and a 12 month high of $39.29.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The business had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company’s revenue was up 33.9% on a year-over-year basis. During the same period last year, the business earned ($0.73) earnings per share. Research analysts forecast that Guardant Health will post -3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the transaction, the director now directly owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. This trade represents a 27.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the sale, the director now directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,432 shares of company stock worth $175,423 over the last quarter. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

Several hedge funds have recently modified their holdings of GH. Wealthcare Advisory Partners LLC purchased a new stake in Guardant Health in the fourth quarter worth about $252,000. Fiduciary Alliance LLC increased its holdings in Guardant Health by 7.6% in the 4th quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock worth $363,000 after buying an additional 836 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Guardant Health during the 3rd quarter worth approximately $15,624,000. Exome Asset Management LLC lifted its position in shares of Guardant Health by 13.7% during the 3rd quarter. Exome Asset Management LLC now owns 89,800 shares of the company’s stock valued at $2,060,000 after buying an additional 10,800 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Guardant Health by 1.1% in 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 in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GH. The Goldman Sachs Group lifted their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Sanford C. Bernstein dropped their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Leerink Partners lowered their target price on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “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.