Park Place Capital Corp Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Park Place Capital Corp trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 16.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,726 shares of the biopharmaceutical company’s stock after selling 1,370 shares during the quarter. Park Place Capital Corp’s holdings in Gilead Sciences were worth $461,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GILD. Private Wealth Management Group LLC purchased a new position in Gilead Sciences in the fourth quarter worth $29,000. Sachetta LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $30,000. Palisade Asset Management LLC acquired a new stake in Gilead Sciences during the first quarter worth approximately $29,000. Rakuten Securities Inc. purchased a new position in Gilead Sciences during the fourth quarter worth about $33,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Gilead Sciences in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD stock traded down $1.79 during mid-day trading on Monday, hitting $74.98. 2,838,300 shares of the stock traded hands, compared to its average volume of 7,384,905. The company’s 50-day simple moving average is $68.80 and its 200-day simple moving average is $70.66. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The firm has a market cap of $93.41 billion, a price-to-earnings ratio of 207.56, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. 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 research report on Wednesday, April 17th. Cantor Fitzgerald cut their price objective on shares of Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Robert W. Baird reiterated a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Finally, Barclays lowered their price objective on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $81.81.

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.