Short Interest in Guardant Health, Inc. (NASDAQ:GH) Rises By 18.4%

Guardant Health, Inc. (NASDAQ:GH) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 11,120,000 shares, a growth of 18.4% from the August 15th total of 9,390,000 shares. Based on an average daily volume of 2,060,000 shares, the days-to-cover ratio is currently 5.4 days.

Analyst Ratings Changes

Several brokerages have recently commented on GH. Guggenheim raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, June 28th. The Goldman Sachs Group upped their target price on Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and issued a $44.00 price target on shares of Guardant Health in a research note on Friday, May 24th. Canaccord Genuity Group upped their price objective on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Bank of America raised their target price on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.31.

Guardant Health Trading Down 1.1 %

Shares of NASDAQ:GH traded down $0.29 during trading on Tuesday, reaching $25.09. The stock had a trading volume of 2,584,666 shares, compared to its average volume of 2,120,633. Guardant Health has a 52 week low of $15.81 and a 52 week high of $37.04. The firm’s fifty day moving average is $29.15 and its 200 day moving average is $24.92. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -6.46 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The business had revenue of $177.24 million for the quarter, compared to analyst estimates of $162.59 million. During the same period in the prior year, the business earned ($0.67) EPS. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. As a group, equities analysts forecast that Guardant Health will post -3.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Guardant Health during the fourth quarter worth $326,000. Truist Financial Corp bought a new position in Guardant Health in the 4th quarter valued at about $258,000. Victory Capital Management Inc. boosted its stake in Guardant Health by 21.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,048 shares of the company’s stock valued at $407,000 after purchasing an additional 2,632 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Guardant Health by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,232,117 shares of the company’s stock worth $33,329,000 after purchasing an additional 20,618 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Guardant Health by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 13,045 shares of the company’s stock worth $353,000 after purchasing an additional 1,240 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

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.