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

Guardant Health, Inc. (NASDAQ:GH) was the target 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 short-interest ratio is currently 4.4 days.

Guardant Health Stock Up 0.2 %

GH traded up $0.08 on Monday, hitting $35.69. The company had a trading volume of 874,021 shares, compared to its average volume of 2,062,363. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.22 and a quick ratio of 5.85. Guardant Health has a 52-week low of $15.81 and a 52-week high of $37.04. The stock has a fifty day simple moving average of $25.21 and a 200-day simple moving average of $27.37. The firm has a market capitalization of $4.41 billion, a P/E ratio of -8.40 and a beta of 1.11.

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

Insider Activity

In other news, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently bought and sold shares of GH. JNBA Financial Advisors purchased a new position in Guardant Health in the third quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in Guardant Health in the 3rd quarter valued at about $34,000. Quarry LP acquired a new position in Guardant Health in the 2nd quarter valued at about $44,000. Canton Hathaway LLC acquired a new position in Guardant Health in the 2nd quarter valued at about $59,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health in the 2nd quarter valued at about $71,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GH has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group raised their price objective on Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler increased their target price on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Sanford C. Bernstein cut 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 note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate 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.