Guardant Health, Inc. (NASDAQ: GH) experienced notable insider trading activity on December 17, 2023, when Director Musa Tariq sold 116 shares of the company’s stock. The shares were sold at an average price of $101.46, resulting in a total transaction value of $11,769.36. Following this sale, Tariq now directly owns 7,993 shares of Guardant Health, valued at approximately $810,969.78. This transaction represents a 1.43% decrease in his ownership stake, as disclosed in a filing with the Securities & Exchange Commission.
The trading activity comes at a time when Guardant Health’s stock is experiencing fluctuations. On the following trading day, the company’s shares declined by 0.4%, closing at $97.10. A total of 3,021,881 shares changed hands, surpassing the average volume of 2,455,208 shares. The company’s current market capitalization is approximately $12.24 billion, with a price-to-earnings (P/E) ratio of -30.25 and a beta of 1.58. Over the past year, the stock has reached a low of $29.91 and a high of $112.43.
Institutional Investors Take Positions in Guardant Health
Recent activities by institutional investors further highlight the interest in Guardant Health. Allworth Financial LP raised its stake by 19.5% in the third quarter, now holding 844 shares worth $53,000 after acquiring an additional 138 shares. Similarly, Swiss Life Asset Management Ltd and CIBC Bancorp USA Inc. made new investments, valued at approximately $327,000 and $796,000, respectively. Castleark Management LLC expanded its position by 31.7%, owning 160,073 shares worth $10,001,000 after purchasing an additional 38,513 shares.
Overall, institutional investors currently hold a substantial 92.60% of the company’s stock, reflecting confidence in Guardant Health’s future prospects.
Analysts Provide Mixed Ratings for Guardant Health
In addition to insider trading and institutional movements, several research analysts have recently shared their insights on Guardant Health’s stock. William Blair reaffirmed an “outperform” rating on September 25, while Guggenheim raised its target price from $56.00 to $67.00, designating the stock as a “buy.” Evercore ISI adjusted their price target from $68.00 to $90.00, maintaining an “outperform” rating.
Analysts at Mizuho increased their price objective from $100.00 to $120.00, also rating the stock as “outperform.” Furthermore, Piper Sandler raised their target from $60.00 to $90.00, giving an “overweight” rating. Overall, twenty-three equity research analysts have rated Guardant Health with a “buy” rating, while one has issued a “sell” rating. According to data from MarketBeat, the company currently holds an average rating of “Moderate Buy” with a consensus target price of $95.52.
Guardant Health, Inc. positions itself as a leader in precision oncology, offering a range of blood and tissue tests, data analytics, and integrated software solutions tailored to clinical and biopharmaceutical customers. Their suite of tests includes the Guardant360, Guardant360 CDx, and GuardantINFINITY, among others, designed to provide actionable insights for cancer treatment.
This combination of insider trading, institutional investment, and analyst ratings emphasizes the dynamic nature of Guardant Health’s market presence and the ongoing interest in its stock performance.
