The liquid biopsy firm beat analyst estimates on the top and bottom lines and raised full-year revenue guidance to $145 to $150 million.
Overall, the share prices for 18 of the index's 27 companies fell month over month. Exact Sciences was the only firm whose share price improved in the double digits.
The investment bank gave the liquid biopsy company a price target of $90 and said that it views Guardant as the field leader.
As of July 1, the Guardant360 test will be considered medically necessary for aiding therapy selection in advanced lung cancer for health plan members of EviCore.
A study presented at the AACR meeting showed that Resolution's ctDx-Lung assay reported more oncogenic fusions than Guardant360 in NSCLC patients.
Clinical researchers at AACR discussed a wide range of approaches focusing on several different potential use-cases in the detection or assessment of early cancers.
The company presented new data on the performance of a multi-pronged liquid biopsy assay in detecting colorectal cancers across a range of clinical stages.
The number of gainers outpaced decliners 21 to six, and the index outpaced the Dow Jones Industrial Average, the Nasdaq Composite, and the Nasdaq Biotech.
Medicare contractor Palmetto is proposing to expand coverage to ensure that more patients have access to genomic profiling when tissue-based testing is not possible.
Under the agreement, Bellwether researchers will join the team advancing Guardant's LUNAR early cancer detection and monitoring assays.