Mullooly Asset Management Inc. Invests $491,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Mullooly Asset Management Inc. acquired 4,381 shares of Gilead Sciences, Inc., valued at approximately $491,000, in their recent investment.
• Institutional investors collectively own 83.67% of Gilead Sciences, indicating strong interest from large financial entities in the biopharmaceutical company.
• Gilead Sciences has a current market cap of $140.79 billion and a stock price that has fluctuated between a 52-week low of $72.43 and a high of $119.96.

Mullooly Asset Management Inc. bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,381 shares of the biopharmaceutical company's stock, valued at approximately $491,000.

Several other hedge funds have also recently bought and sold shares of the company. Bridgewater Associates LP boosted its stake in shares of Gilead Sciences by 122.7% in the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock valued at $42,577,000 after purchasing an additional 253,994 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after purchasing an additional 14,009 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Gilead Sciences by 14.5% in the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock valued at $97,000 after buying an additional 109 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in Gilead Sciences by 54.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after buying an additional 13,086 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth approximately $1,699,000. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $110.45, for a total value of $1,104,500.00. Following the completion of the transaction, the chief executive officer directly owned 615,725 shares in the company, valued at approximately $68,006,826.25. The trade was a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the sale, the insider directly owned 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock valued at $8,984,175 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Morgan Stanley boosted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Oppenheimer dropped their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research report on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $112.36.

Gilead Sciences Stock Performance

NASDAQ GILD traded up $1.33 during trading on Monday, hitting $114.51. 5,633,402 shares of the company's stock traded hands, compared to its average volume of 5,536,027. The stock has a market capitalization of $142.44 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 0.71 and a beta of 0.33. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $119.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The business has a 50 day moving average of $110.51 and a 200-day moving average of $106.91.

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.