Proficio Capital Partners LLC Takes Position in Gilead Sciences, Inc. $GILD

Proficio Capital Partners LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, HoldingsChannel reports. The institutional investor bought 4,405 shares of the biopharmaceutical company’s stock, valued at approximately $557,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock worth $1,326,000 after purchasing an additional 2,450 shares during the period. Bison Wealth LLC acquired a new position in Gilead Sciences during the 4th quarter valued at about $215,000. Sivia Capital Partners LLC boosted its stake in shares of Gilead Sciences by 16.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 602 shares during the last quarter. Ieq Capital LLC grew its position in shares of Gilead Sciences by 12.0% during the 2nd quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company’s stock worth $13,160,000 after buying an additional 12,705 shares during the period. Finally, Diversify Advisory Services LLC grew its position in shares of Gilead Sciences by 18.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company’s stock worth $516,000 after buying an additional 674 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

More Gilead Sciences News

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: The U.S. Food and Drug Administration approved Bixlenvo, Gilead’s once-daily single-tablet HIV regimen combining bictegravir and lenacapavir. It is the first and only single-tablet option for virologically suppressed adults on complex treatment regimens who cannot use currently available alternatives. The approval could broaden Gilead’s HIV franchise and supports its strategy of using lenacapavir in long-term HIV treatment and prevention. Reuters FDA approval article
• Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients. The label expansion strengthens Gilead’s oncology franchise and provides another potential source of revenue growth beyond its core HIV business. EU Trodelvy approval article
• Positive Sentiment: Recent investor commentary points to continued optimism around Gilead’s HIV prevention medicines, including the potential growth of its PrEP portfolio. Analysts and investors also view the stock as potentially undervalued relative to its fundamentals despite a strong five-year performance, which may support further interest. Gilead HIV catalyst article
• Neutral Sentiment: Gilead will present at the Wells Fargo, Cantor and Morgan Stanley healthcare conferences in September. These events could provide updates on Bixlenvo, HIV prevention, Trodelvy and the broader pipeline, but they do not create an immediate change to financial results. Gilead investor conferences announcement
• Negative Sentiment: Director Anthony Welters sold 18,000 shares worth approximately $2.68 million, reducing his holdings by about 58%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than a discretionary insider sale, but it may still modestly weigh on sentiment. SEC insider transaction filing

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the completion of the transaction, the insider owned 118,234 shares in the company, valued at $16,273,727.76. This represents a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the sale, the chief executive officer owned 592,133 shares in the company, valued at approximately $77,160,851.23. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 105,000 shares of company stock valued at $14,238,120 over the last 90 days. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Leerink Partners downgraded shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Truist Financial lowered their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 target price on shares of Gilead Sciences in a report on Wednesday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 target price on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Morgan Stanley cut their price target on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.04.

Gilead Sciences Trading Up 0.5%

Shares of NASDAQ GILD opened at $148.86 on Friday. The company’s fifty day moving average is $133.81 and its 200-day moving average is $136.55. The stock has a market cap of $184.58 billion, a price-to-earnings ratio of -55.75 and a beta of 0.32. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The business had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. Equities research analysts predict that Gilead Sciences, Inc. will post -0.5 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.2%. Gilead Sciences’s dividend payout ratio (DPR) is currently -122.85%.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.