R Squared Ltd Invests $705,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• R Squared Ltd acquired 6,290 shares of Gilead Sciences, valued at approximately $705,000, making it the 25th largest holding for the fund.
• In recent months, several institutional investors, such as Redwood Financial Network Corp and Argentarii LLC, have increased their stakes in Gilead, reflecting a growing interest in the biopharmaceutical company.
• CEO Daniel Patrick O'Day and Director Jeffrey Bluestone recently sold shares of Gilead, with O'Day selling 10,000 shares and Bluestone selling 5,000 shares, indicating potential insider profit-taking.

R Squared Ltd purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,290 shares of the biopharmaceutical company's stock, valued at approximately $705,000. Gilead Sciences accounts for approximately 0.8% of R Squared Ltd's investment portfolio, making the stock its 25th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Redwood Financial Network Corp boosted its position in shares of Gilead Sciences by 4.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after acquiring an additional 98 shares during the last quarter. Argentarii LLC boosted its position in shares of Gilead Sciences by 3.0% during the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after acquiring an additional 99 shares during the last quarter. Nicolet Advisory Services LLC boosted its position in shares of Gilead Sciences by 2.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after acquiring an additional 100 shares during the last quarter. Peak Financial Advisors LLC boosted its position in shares of Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock valued at $677,000 after acquiring an additional 100 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its position in shares of Gilead Sciences by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after acquiring an additional 100 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares in the company, valued at approximately $978,880.80. This represents a 35.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider owned 121,152 shares of the company's stock, 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 quarter, insiders have sold 82,000 shares of company stock worth $8,984,175. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Up 0.8%

Shares of GILD stock traded up $0.89 during trading hours on Friday, reaching $113.18. 5,016,320 shares of the stock were exchanged, compared to its average volume of 5,536,027. The business's fifty day moving average is $110.51 and its two-hundred day moving average is $106.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The firm has a market capitalization of $140.79 billion, a P/E ratio of 23.83, a P/E/G 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.

Wall Street Analyst Weigh In

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 price target on the stock. Morgan Stanley boosted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Needham & Company LLC raised 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. Finally, Oppenheimer decreased 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. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of "Moderate Buy" and a consensus price target 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.