Stock Alert: Guardant Health Up 7%

(RTTNews) - Shares of Guardant Health, Inc. (GH), a precision oncology company, that provides blood tests, data sets, and analytics, climbed $5.71 or 7.53% on Wednesday after reporting narrower than estimated loss in the fourth quarter.

Guardant Health reported loss of $25.2 million or $0.27 in the fourth quarter compared with $25.1 million or $0.30 per share loss for the corresponding period last year. 7 analysts on average polled by Thomson Reuters were expecting loss of $0.31 per share.

Revenue increased 91% year-on-year to $62.9 million, helped mainly by 104% increase in precision oncology revenue on higher testing volume.

For the full-year, the company expects revenue to be in the range of $275.0 million to $285.0 million

Looking forward, Derek Bertocci, Chief Financial Officer said, "In 2020, we expect contributions from our biopharma business to be lighter in the first quarter. ... we expect revenue to benefit - to begin to benefit from the expanded Medicare LCD in the second quarter of 2020 with more full benefit in the third quarter and beyond."

The stock closed Wednesday's trade at $81.50 and has traded in the range of $54- $112.22. From October last year, the shares have been upticking with nearly 40% growth in almost 5 months.