Cullinan Associates Inc. Trims Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Cullinan Associates Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 85.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,141 shares of the biopharmaceutical company’s stock after selling 85,844 shares during the period. Cullinan Associates Inc.’s holdings in Gilead Sciences were worth $1,399,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Gilead Sciences during the third quarter worth about $25,000. HHM Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 154 shares during the period. Valued Wealth Advisors LLC grew its holdings in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Decker Retirement Planning Inc. acquired a new position in Gilead Sciences during the fourth quarter worth approximately $29,000. Finally, Crews Bank & Trust acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $98.38 on Tuesday. The company has a 50-day moving average of $92.42 and a 200-day moving average of $85.96. The firm has a market cap of $122.61 billion, a price-to-earnings ratio of 1,093.11, a price-to-earnings-growth ratio of 1.37 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $99.45.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period last year, the company posted $2.29 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts forecast that Gilead Sciences, Inc. will post 4.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. BMO Capital Markets increased their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Wolfe Research started coverage on Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.39.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares of the company’s stock, valued at $815,198.80. This represents a 43.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now directly owns 138,919 shares in the company, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 598,414 shares of company stock valued at $55,953,200. Insiders own 0.29% of the company’s stock.

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.