Redwood Investment Management LLC Increases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Redwood Investment Management LLC boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,260 shares of the biopharmaceutical company’s stock after buying an additional 597 shares during the quarter. Redwood Investment Management LLC’s holdings in Gilead Sciences were worth $2,143,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in shares of Gilead Sciences by 1.1% in the first quarter. California State Teachers Retirement System now owns 2,055,365 shares of the biopharmaceutical company’s stock valued at $150,555,000 after purchasing an additional 21,933 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Gilead Sciences by 2.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 28,519 shares of the biopharmaceutical company’s stock valued at $2,137,000 after purchasing an additional 604 shares in the last quarter. Elkhorn Partners Limited Partnership grew its holdings in shares of Gilead Sciences by 171.4% in the first quarter. Elkhorn Partners Limited Partnership now owns 950 shares of the biopharmaceutical company’s stock valued at $70,000 after purchasing an additional 600 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Gilead Sciences by 306.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 517,770 shares of the biopharmaceutical company’s stock valued at $37,927,000 after purchasing an additional 390,301 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in shares of Gilead Sciences in the first quarter valued at approximately $2,946,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

GILD stock traded down $1.99 on Wednesday, hitting $76.06. The company’s stock had a trading volume of 7,050,691 shares, compared to its average volume of 7,434,173. The firm has a 50 day moving average of $68.37 and a two-hundred day moving average of $70.90. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The stock has a market cap of $94.76 billion, a price-to-earnings ratio of 211.28, a price-to-earnings-growth ratio of 3.42 and a beta of 0.18. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research reports. Cantor Fitzgerald dropped their price objective on shares of Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Morgan Stanley lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target for the company in a report on Wednesday, April 24th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has a consensus rating of “Hold” and an average target price of $81.81.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.