Short Interest in Guardant Health Inc (NASDAQ:GH) Declines By 6.2%

Guardant Health Inc (NASDAQ:GH) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 3,092,600 shares, a decline of 6.2% from the May 30th total of 3,296,300 shares. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is presently 2.6 days. Currently, 10.7% of the shares of the company are sold short.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Bank of America set a $25.00 price objective on shares of Bed Bath & Beyond and gave the company a “buy” rating in a report on Wednesday, April 10th. Cowen increased their target price on shares of Guardant Health from $40.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Canaccord Genuity lowered their target price on shares of Yamana Gold from C$5.50 to C$4.25 in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. set a €52.00 ($60.47) target price on shares of Vonovia and gave the stock a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $83.50.

In other Guardant Health news, insider Richard B. Lanman sold 3,842 shares of Guardant Health stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.84, for a total transaction of $249,115.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ian T. Clark sold 538 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $65.11, for a total transaction of $35,029.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 893,566 shares of company stock valued at $60,663,076.

A number of large investors have recently bought and sold shares of GH. Mascoma Wealth Management LLC acquired a new stake in Guardant Health in the first quarter valued at $54,000. SG Americas Securities LLC acquired a new position in Guardant Health in the 1st quarter valued at about $108,000. Financial Advocates Investment Management acquired a new position in Guardant Health in the 4th quarter valued at about $220,000. Legal & General Group Plc acquired a new position in Guardant Health in the 4th quarter valued at about $85,000. Finally, Citigroup Inc. acquired a new position in Guardant Health in the 4th quarter valued at about $94,000. Hedge funds and other institutional investors own 69.15% of the company’s stock.

NASDAQ:GH traded up $1.78 during mid-day trading on Monday, hitting $88.18. The stock had a trading volume of 5,414 shares, compared to its average volume of 734,986. The firm’s 50-day simple moving average is $85.33. The company has a market capitalization of $7.57 billion and a P/E ratio of -31.05. Guardant Health has a twelve month low of $27.04 and a twelve month high of $106.58.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. The company had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $32.12 million. As a group, analysts predict that Guardant Health will post -1.48 EPS for the current fiscal year.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.

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