Guardant Health ( (GH) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Guardant Health shares climbed after the U.S. FDA approved Guardant360 Liquid CDx, a blood-based cancer test that combines genomic and epigenomic data to better guide treatment for patients with advanced disease. The approval also shifts seven existing companion diagnostic indications onto the new assay, boosting the test’s commercial appeal.
Following the regulatory milestone, analysts broadly raised their price targets on Guardant Health, reflecting a more optimistic outlook for future revenue and adoption of the company’s testing platform. The upward revisions in Wall Street expectations added extra momentum to the stock’s recent rally.
More about Guardant Health
YTD Price Performance: -3.87%
Average Trading Volume: 1,971,051
Technical Sentiment Signal: Strong Buy
Current Market Cap: $12.68B
For further insights into GH stock on TipRanks’ Stock Analysis page.
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