Guardant Health, Inc. (NASDAQ:GH) experienced notable trading activity recently as Director Musa Tariq sold 116 shares of the company’s stock on December 17, 2023. 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 retains ownership of 7,993 shares, which are currently valued at approximately $810,969.78. This transaction reflects a 1.43% decrease in his ownership stake in the company.
The sale was disclosed in a filing with the Securities and Exchange Commission, accessible to the public. On December 18, the stock traded down by 0.4%, closing at $97.10. During this trading session, a total of 3,021,881 shares changed hands, surpassing the average volume of 2,455,208 shares. Guardant Health’s stock has shown significant volatility, with a 12-month low of $29.91 and a 12-month high of $112.43.
Institutional Investment Activity
Recent activity among institutional investors has further highlighted the interest in Guardant Health. Allworth Financial LP increased its stake in Guardant Health by 19.5% during the third quarter, now holding 844 shares valued at $53,000 after acquiring an additional 138 shares. Other notable investors include Swiss Life Asset Management Ltd, which purchased a new position valued at approximately $327,000, and CIBC Bancorp USA Inc., which invested around $796,000 in the same quarter.
Moreover, Danske Bank A S also entered the market with a new position worth about $62,000. Castleark Management LLC showcased a significant increase of 31.7% in its holdings, now owning 160,073 shares valued at $10,001,000. Institutional investors now command 92.60% of the company’s stock, signaling strong confidence in its future prospects.
Analysts’ Perspectives and Ratings
Several analysts have provided updated ratings and price targets for Guardant Health. William Blair reaffirmed an “outperform” rating on the stock, while Guggenheim raised their target price from $56.00 to $67.00, maintaining a “buy” rating. Additionally, Evercore ISI increased their price target from $68.00 to $90.00, categorizing the stock as “outperform.”
Furthermore, Mizuho adjusted its price objective from $100.00 to $120.00, while Piper Sandler elevated their target price from $60.00 to $90.00, giving it an “overweight” rating. A total of twenty-three equity research analysts have rated Guardant Health with a buy recommendation, and only 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. is a precision oncology company that offers a range of blood and tissue tests, analytics, and data sets both in the United States and internationally. Its suite of products includes the Guardant360 test, Guardant360 LDT, Guardant360 CDx Test, and others designed for clinical and biopharmaceutical applications. As the company continues to evolve, these developments in trading activity and analyst ratings will be crucial for investors and market observers alike.
