Guardant Health, Inc. (NASDAQ:GH) Sees Significant Increase in Short Interest

Guardant Health, Inc. (NASDAQ:GH) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 13,690,000 shares, a growth of 20.6% from the September 15th total of 11,350,000 shares. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is presently 6.1 days.

Institutional Investors Weigh In On Guardant Health

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Guardant Health in the second quarter valued at approximately $44,000. Canton Hathaway LLC purchased a new stake in shares of Guardant Health in the second quarter valued at approximately $59,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health in the second quarter valued at approximately $71,000. Byrne Asset Management LLC purchased a new stake in shares of Guardant Health in the second quarter valued at approximately $77,000. Finally, Manchester Capital Management LLC purchased a new stake in shares of Guardant Health in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GH. UBS Group raised their price target on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Craig Hallum raised their price target on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TD Cowen raised their price target on Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Citigroup raised their price target on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Guggenheim upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

Guardant Health Stock Up 1.0 %

GH traded up $0.22 on Wednesday, hitting $21.78. The company had a trading volume of 329,152 shares, compared to its average volume of 2,066,748. The stock has a fifty day moving average price of $25.19 and a 200-day moving average price of $25.52. Guardant Health has a 12-month low of $15.81 and a 12-month high of $37.04. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -5.46 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The business had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. Guardant Health’s revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.67) EPS. Analysts predict that Guardant Health will post -3.31 EPS for the current fiscal year.

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.