Versant Capital Management Inc Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Versant Capital Management Inc cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 21.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 626 shares of the biopharmaceutical company’s stock after selling 171 shares during the period. Versant Capital Management Inc’s holdings in Gilead Sciences were worth $43,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of Gilead Sciences by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after acquiring an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Gilead Sciences by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after acquiring an additional 87,482 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $74,000. Eagle Asset Management Inc. raised its stake in shares of Gilead Sciences by 23.6% in the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after acquiring an additional 60,697 shares during the period. Finally, ARGA Investment Management LP raised its stake in shares of Gilead Sciences by 6.2% in the 4th quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock valued at $51,446,000 after acquiring an additional 37,069 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $74.00 price objective on shares of Gilead Sciences in a report on Monday, July 1st. Maxim Group dropped their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Barclays dropped their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. UBS Group dropped their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price objective on shares of Gilead Sciences in a report on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences has an average rating of “Hold” and a consensus price target of $81.81.

Gilead Sciences Stock Performance

GILD stock traded down $0.64 on Tuesday, hitting $74.19. The company’s stock had a trading volume of 5,310,668 shares, compared to its average volume of 7,401,109. The firm has a 50 day moving average of $68.98 and a two-hundred day moving average of $70.58. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The stock has a market cap of $92.43 billion, a price-to-earnings ratio of 207.86, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

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.