The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Gilead Sciences, Inc. shares valued at $368,790 were purchased by GILEAD SCIENCES, INC. on Apr 02 ’24. At $0.76 per share, GILEAD SCIENCES, INC. acquired 485,250 shares. The insider’s holdings grew to 7,345,473 shares worth approximately $479.44 million following the completion of this transaction.
Also, Parsey Merdad sold 2,000 shares, netting a total of over 145,920 in proceeds. Following the sale of shares at $72.96 each, the insider now holds 96,304 shares.
Before that, Parsey Merdad had sold 8,230 shares from its account. In a trade valued at $598,624, the Chief Medical Officer traded Gilead Sciences, Inc. shares for $72.74 each. Upon closing the transaction, the insider’s holdings decreased to 8,230 shares, worth approximately $6.05 million.
As published in a research note from HSBC Securities on April 24, 2024, Gilead Sciences, Inc. [GILD] has been rated up from a Reduce to a Hold and the price target has been revised to $69. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late February. As of November 09, 2023, Deutsche Bank has initiated its “Hold” rating for GILD. Earlier on September 08, 2023, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for GILD stock which previously was a “a Neutral”.
Analyzing GILD Stock Performance
During the last five days, there has been a drop of approximately -1.35%. Over the course of the year, Gilead Sciences, Inc. shares have dropped approximately -19.43%. Shares of the company reached a 52-week high of $87.86 on 01/19/24 and a 52-week low of $65.09 on 04/25/24. A 50-day SMA is recorded $71.43, while a 200-day SMA reached $76.41. Nevertheless, trading volume fell to 15.13 million shares from 8.47 million shares the previous day.
Support And Resistance Levels for Gilead Sciences, Inc. (GILD)
According to the 24-hour chart, there is a support level at 64.27, which, if violated, would cause prices to drop to 63.28. In the upper region, resistance lies at 67.08. The next price resistance is at 68.90. RSI (Relative Strength Index) is 24.70 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.07, which suggests the price will decrease in the coming days. Percent R is at 96.30%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
