Van ECK Associates Corp Sells 488,138 Shares of Gilead Sciences, Inc. $GILD

Van ECK Associates Corp lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 40.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 716,459 shares of the biopharmaceutical company’s stock after selling 488,138 shares during the period. Van ECK Associates Corp’s holdings in Gilead Sciences were worth $90,517,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Nissay Asset Management Corp Japan grew its stake in Gilead Sciences by 6.4% in the second quarter. Nissay Asset Management Corp Japan now owns 371,019 shares of the biopharmaceutical company’s stock valued at $46,875,000 after purchasing an additional 22,333 shares in the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $12,958,000. BNP Paribas boosted its holdings in shares of Gilead Sciences by 20.7% in the 2nd quarter. BNP Paribas now owns 118,671 shares of the biopharmaceutical company’s stock valued at $14,992,000 after buying an additional 20,329 shares during the last quarter. Field & Main Bank bought a new position in shares of Gilead Sciences in the second quarter valued at $38,000. Finally, Archer Investment Corp acquired a new position in Gilead Sciences during the second quarter worth $957,000. 83.67% of the stock is owned by institutional investors and hedge funds.

More Gilead Sciences News

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

• Positive Sentiment: The FDA approved Bixlenvo, a once-daily single-tablet regimen combining bictegravir and lenacapavir for virologically suppressed adults with HIV. It is the first and only single-tablet option for patients on complex regimens who cannot use currently available alternatives, potentially expanding Gilead’s HIV franchise and supporting its longer-term lenacapavir strategy. Reuters FDA approval article
• Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients, strengthening Gilead’s oncology portfolio and adding a potential growth opportunity outside its core HIV business. EU Trodelvy approval article
• Neutral Sentiment: Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of approximately $158. However, GILD’s strong multi-year advance may have raised expectations and limited the immediate upside from the Bixlenvo approval. Gilead valuation article
• Negative Sentiment: Director Anthony Welters sold 18,000 shares worth about $2.68 million, reducing his position by roughly 58%. The sale occurred under a pre-arranged Rule 10b5-1 plan, making it a limited bearish signal, but it may still weigh modestly on investor sentiment. SEC insider transaction filing

Gilead Sciences Trading Down 2.1%

Shares of NASDAQ:GILD opened at $145.68 on Friday. The stock has a market cap of $180.64 billion, a PE ratio of -54.56 and a beta of 0.32. 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, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The business has a 50 day moving average of $134.25 and a 200-day moving average of $136.62.

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

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 yield of 2.3%. Gilead Sciences’s dividend payout ratio is currently -122.85%.

Insider Activity

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 15,000 shares of Gilead Sciences stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total value of $1,954,650.00. Following the completion of the transaction, the chief executive officer directly owned 592,133 shares of the company’s stock, valued at $77,160,851.23. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the transaction, the director owned 10,066 shares in the company, valued at $1,459,771.32. The trade was a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 105,000 shares of company stock worth $14,238,120. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on GILD shares. Morgan Stanley cut their price target on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 target price on shares of Gilead Sciences in a report on Wednesday, August 5th. Barclays cut their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Leerink Partners lowered Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Finally, HSBC raised Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $133.00 to $155.00 in a research report on Monday, July 6th. Twenty-four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $158.04.

About Gilead Sciences

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.