In a filing, Gilead Sciences, Inc. revealed its Chief Medical Officer Parsey Merdad unloaded Company’s shares for reported $0.6 million on Feb 29 ’24. In the deal valued at $72.74 per share,8,230 shares were sold. As a result of this transaction, Parsey Merdad now holds 92,706 shares worth roughly $6.73 million.
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Then, Parsey Merdad sold 2,000 shares, generating $146,360 in total proceeds. Upon selling the shares at $73.18, the Chief Medical Officer now owns 100,936 shares.
Before that, GILEAD SCIENCES, INC. bought 910,000 shares. Gilead Sciences, Inc. shares valued at $20,020,000 were divested by the 10% Owner at a price of $22.00 per share. As a result of the transaction, GILEAD SCIENCES, INC. now holds 4,126,119 shares, worth roughly $299.47 million.
Truist downgraded its Gilead Sciences, Inc. [GILD] rating to a Hold from a a Buy in a research note published on February 22, 2024; the price target was decreased to $82 from $91. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who began to cover the stock in early November with a ‘”a Hold”‘ rating. BofA Securities also remained covering GILD and has increased its forecast on September 08, 2023 with a “Buy” recommendation from previously “Neutral” rating. HSBC Securities started covering the stock on September 06, 2023. It rated GILD as “a Reduce”.
Price Performance Review of GILD
On Monday, Gilead Sciences, Inc. [NASDAQ:GILD] saw its stock fall -0.04% to $72.58. Over the last five days, the stock has lost -0.93%. Gilead Sciences, Inc. shares have fallen nearly -10.41% since the year began. Nevertheless, the stocks have fallen -7.85% over the past one year. While a 52-week high of $87.86 was reached on 01/19/24, a 52-week low of $71.37 was recorded on 02/16/24. SMA at 50 days reached $75.95, while 200 days put it at $77.31. A total of 5.49 million shares were traded, compared to the trading of 7.73 million shares in the previous session.
Levels Of Support And Resistance For GILD Stock
The 24-hour chart illustrates a support level at 72.24, which if violated will result in even more drops to 71.90. On the upside, there is a resistance level at 72.88. A further resistance level may holdings at 73.18. The Relative Strength Index (RSI) on the 14-day chart is 40.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.52%. Stochastics %K at 16.16% indicates the stock is a buying.
How much short interest is there in Gilead Sciences, Inc.?
A steep rise in short interest was recorded in Gilead Sciences, Inc. stocks on Feb 29, 2024, growing by 4.01 million shares to a total of 19.67 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 15.66 million shares. There was a rise of 20.39%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.77% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.55.
The most recent change occurred on July 24, 2023 when Barclays resumed its ‘”an Equal weight”‘ rating for the stock and retained the price target to $80.
