Headlands Technologies LLC Has $4.04 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Headlands Technologies LLC significantly increased its stake in Gilead Sciences, Inc. by 75.8% in Q1, bringing their total holdings to $4.04 million with 36,037 shares owned.
• Gilead Sciences' stock is currently trading at $110.28, down 1.9%, with a market cap of $137.18 billion and a consensus price target of $112.36.
• Analyst ratings are generally positive, with 15 analysts giving a buy rating and only 3 issuing a strong buy, while several target prices have been adjusted upward, including one to $135.00 by Morgan Stanley.

Headlands Technologies LLC raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 75.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,037 shares of the biopharmaceutical company's stock after acquiring an additional 15,539 shares during the period. Headlands Technologies LLC's holdings in Gilead Sciences were worth $4,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GILD. Brighton Jones LLC boosted its stake in Gilead Sciences by 20.6% during the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after purchasing an additional 2,450 shares during the period. Trexquant Investment LP bought a new position in Gilead Sciences in the 4th quarter worth approximately $523,000. Rathbones Group PLC lifted its holdings in shares of Gilead Sciences by 3.8% during the fourth quarter. Rathbones Group PLC now owns 3,395 shares of the biopharmaceutical company's stock worth $314,000 after buying an additional 125 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Gilead Sciences by 6.1% in the fourth quarter. Bank of Nova Scotia now owns 773,847 shares of the biopharmaceutical company's stock valued at $71,480,000 after acquiring an additional 44,233 shares during the period. Finally, Advisory Services Network LLC grew its stake in shares of Gilead Sciences by 14.4% in the fourth quarter. Advisory Services Network LLC now owns 71,087 shares of the biopharmaceutical company's stock worth $6,566,000 after acquiring an additional 8,970 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 1.9%

GILD opened at $110.28 on Thursday. Gilead Sciences, Inc. has a twelve month low of $72.43 and a twelve month high of $119.96. The firm has a market cap of $137.18 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 0.71 and a beta of 0.33. The firm's 50-day simple moving average is $110.76 and its 200-day simple moving average is $107.12. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 121,152 shares in the company, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.