Guardant Health, Inc. (NASDAQ:GH) Short Interest Down 8.5% in November

Guardant Health, Inc. (NASDAQ:GH) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 9,390,000 shares, a decrease of 8.5% from the October 31st total of 10,260,000 shares. Based on an average trading volume of 2,120,000 shares, the days-to-cover ratio is presently 4.4 days.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total transaction of $86,590.40. Following the sale, the director now directly owns 7,648 shares in the company, valued at $228,675.20. This represents a 27.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently modified their holdings of GH. Geode Capital Management LLC grew its holdings in Guardant Health by 1.1% in the third 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 during the period. Pier Capital LLC grew its holdings in Guardant Health by 36.7% in the third quarter. Pier Capital LLC now owns 158,429 shares of the company’s stock valued at $3,634,000 after purchasing an additional 42,575 shares during the period. Wellington Management Group LLP grew its holdings in Guardant Health by 188.6% in the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after purchasing an additional 6,618,785 shares during the period. Wexford Capital LP lifted its position in Guardant Health by 13.0% during the third quarter. Wexford Capital LP now owns 10,081 shares of the company’s stock valued at $231,000 after buying an additional 1,158 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Guardant Health by 52.7% during the third quarter. Two Sigma Advisers LP now owns 1,177,300 shares of the company’s stock valued at $27,007,000 after buying an additional 406,500 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Price Performance

NASDAQ:GH traded up $0.08 during mid-day trading on Monday, hitting $35.69. 874,021 shares of the company’s stock traded hands, compared to its average volume of 2,062,363. The company has a market cap of $4.41 billion, a PE ratio of -8.40 and a beta of 1.11. Guardant Health has a 1 year low of $15.81 and a 1 year high of $37.04. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.85 and a current ratio of 6.22. The firm’s 50 day simple moving average is $25.21 and its 200 day simple moving average is $27.37.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The firm had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.73) earnings per share. Sell-side analysts expect that Guardant Health will post -3.38 EPS for the current year.

Analyst Ratings Changes

GH has been the topic of a number of research reports. Leerink Partners reduced their target price on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. UBS Group increased their target price on shares of Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. The Goldman Sachs Group increased their price objective on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein dropped their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Guardant Health Company Profile

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.