Short Interest in Gilead Sciences, Inc. (NASDAQ:GILD) Decreases By 7.6%

Gilead Sciences, Inc. (NASDAQ:GILD) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 21,250,000 shares, a drop of 7.6% from the June 30th total of 23,000,000 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily volume of 7,530,000 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analyst Weigh In

GILD has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Monday, July 8th. Cantor Fitzgerald decreased their target price on Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, UBS Group decreased their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.81.

Gilead Sciences Trading Up 1.0 %

NASDAQ:GILD traded up $0.78 during midday trading on Thursday, hitting $76.84. The stock had a trading volume of 2,898,814 shares, compared to its average volume of 7,403,338. Gilead Sciences has a one year low of $62.07 and a one year high of $87.86. The company has a market capitalization of $95.73 billion, a price-to-earnings ratio of 212.28, a PEG ratio of 3.43 and a beta of 0.18. The stock has a 50-day moving average of $68.37 and a 200 day moving average of $70.90. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in Gilead Sciences by 41.9% during the fourth quarter. Global Retirement Partners LLC now owns 6,744 shares of the biopharmaceutical company’s stock worth $580,000 after buying an additional 1,991 shares during the period. Chicago Capital LLC lifted its holdings in Gilead Sciences by 7.0% during the fourth quarter. Chicago Capital LLC now owns 4,594 shares of the biopharmaceutical company’s stock worth $372,000 after buying an additional 300 shares during the period. Silverlake Wealth Management LLC purchased a new stake in Gilead Sciences during the fourth quarter worth $209,000. Essex Savings Bank lifted its holdings in Gilead Sciences by 5.6% during the fourth quarter. Essex Savings Bank now owns 4,547 shares of the biopharmaceutical company’s stock worth $368,000 after buying an additional 240 shares during the period. Finally, Stonegate Investment Group LLC lifted its holdings in Gilead Sciences by 6.7% during the fourth quarter. Stonegate Investment Group LLC now owns 7,297 shares of the biopharmaceutical company’s stock worth $591,000 after buying an additional 460 shares during the period. Institutional investors own 83.67% of the company’s stock.

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.