Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 33.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,179 shares of the biopharmaceutical company’s stock after selling 3,100 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Gilead Sciences were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $29,000. Sachetta LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $30,000. Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences in the 4th quarter valued at $33,000. Finally, Gladius Capital Management LP purchased a new stake in Gilead Sciences in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of several research reports. Maxim Group lowered their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research report on Friday. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Finally, UBS Group dropped their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.88.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Trading Down 2.4 %

GILD stock traded down $1.78 during midday trading on Friday, reaching $73.81. 6,338,428 shares of the company’s stock traded hands, compared to its average volume of 7,375,896. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The business has a 50-day moving average price of $69.62 and a two-hundred day moving average price of $70.55. The company has a market capitalization of $91.96 billion, a P/E ratio of 203.28, a PEG ratio of 3.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Equities research analysts forecast that Gilead Sciences, Inc. will post 3.73 EPS for the current fiscal year.

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.