Baker Avenue Asset Management LP Takes $279,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Baker Avenue Asset Management LP has acquired a new stake of $279,000 in Gilead Sciences, purchasing 2,490 shares of the biopharmaceutical company.
• Recent insider transactions saw CFO Andrew D. Dickinson sell 2,500 shares for approximately $277,575, and insider Johanna Mercier sell 28,000 shares valued at over $3 million, indicating significant insider selling activity.
• Gilead Sciences currently has a market cap of $140.79 billion, with a consensus rating of "Moderate Buy" and a target price averaging around $112.36.

Baker Avenue Asset Management LP acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,490 shares of the biopharmaceutical company's stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $29,000. Core Alternative Capital increased its position in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 241 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $39,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Gilead Sciences by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 216 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $277,575.00. Following the transaction, the chief financial officer owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal 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 value of $3,010,560.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock worth $8,984,175. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $113.18 on Friday. Gilead Sciences, Inc. has a 52 week low of $72.43 and a 52 week high of $119.96. The business's fifty day simple moving average is $110.51 and its 200-day simple moving average is $106.80. The firm has a market cap of $140.79 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 0.71 and a beta of 0.33. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

Analysts Set New Price Targets

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

Gilead Sciences 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.

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