Tidal Investments LLC Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Tidal Investments LLC decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,890 shares of the biopharmaceutical company’s stock after selling 5,432 shares during the quarter. Tidal Investments LLC’s holdings in Gilead Sciences were worth $2,993,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Private Wealth Management Group LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Sachetta LLC acquired a new position in Gilead Sciences during the 4th quarter valued at approximately $30,000. Palisade Asset Management LLC acquired a new position in Gilead Sciences during the 1st quarter valued at approximately $29,000. Rakuten Securities Inc. acquired a new position in Gilead Sciences during the 4th quarter worth $33,000. Finally, Gladius Capital Management LP acquired a new position in Gilead Sciences during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ GILD traded up $0.72 during trading hours on Thursday, reaching $76.78. 1,374,594 shares of the stock traded hands, compared to its average volume of 7,392,969. The company has a market capitalization of $95.66 billion, a P/E ratio of 212.28, a price-to-earnings-growth ratio of 3.43 and a beta of 0.18. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The company’s 50-day simple moving average is $68.37 and its two-hundred day simple moving average is $70.90.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GILD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Monday, July 8th. Barclays dropped their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $74.00 target price on shares of Gilead Sciences in a research report on Monday, July 1st. Finally, Cantor Fitzgerald lowered their price objective on Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.81.

Gilead Sciences Company Profile

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.