Guardant Health, Inc. (NASDAQ:GH) Short Interest Up 25.1% in April

Guardant Health, Inc. (NASDAQ:GH) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 9,560,000 shares, a growth of 25.1% from the March 31st total of 7,640,000 shares. Based on an average trading volume of 1,990,000 shares, the short-interest ratio is currently 4.8 days.

Insiders Place Their Bets

In other Guardant Health news, insider Kumud Kalia bought 2,187 shares of Guardant Health stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of $17.82 per share, for a total transaction of $38,972.34. Following the completion of the transaction, the insider now directly owns 12,722 shares of the company’s stock, valued at $226,706.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Guardant Health by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,130,654 shares of the company’s stock valued at $301,084,000 after purchasing an additional 180,424 shares during the period. Baillie Gifford & Co. purchased a new position in shares of Guardant Health in the fourth quarter valued at approximately $167,137,000. Capital International Investors boosted its stake in shares of Guardant Health by 36.7% in the fourth quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after purchasing an additional 1,074,452 shares during the period. Eventide Asset Management LLC boosted its stake in shares of Guardant Health by 8.3% in the fourth quarter. Eventide Asset Management LLC now owns 3,888,146 shares of the company’s stock valued at $105,174,000 after purchasing an additional 298,616 shares during the period. Finally, Jennison Associates LLC raised its holdings in Guardant Health by 27.1% in the third quarter. Jennison Associates LLC now owns 1,890,884 shares of the company’s stock valued at $56,046,000 after acquiring an additional 403,475 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. Craig Hallum assumed coverage on shares of Guardant Health in a report on Wednesday, April 24th. They issued a “buy” rating and a $28.00 price objective for the company. Guggenheim reissued a “neutral” rating on shares of Guardant Health in a report on Friday, April 5th. Piper Sandler dropped their price objective on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.91.

Guardant Health Trading Down 1.0 %

GH stock traded down $0.19 during mid-day trading on Tuesday, hitting $18.00. 1,168,510 shares of the company were exchanged, compared to its average volume of 1,865,512. The company has a quick ratio of 6.24, a current ratio of 6.54 and a debt-to-equity ratio of 7.18. The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.21 and a beta of 0.87. The business has a fifty day simple moving average of $18.65 and a 200-day simple moving average of $22.75. Guardant Health has a 12-month low of $15.81 and a 12-month high of $41.06.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.65). Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. The business had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $151.71 million. On average, equities research analysts predict that Guardant Health will post -3.49 earnings per share for the current fiscal year.

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.