MidFirst Bank takes new $810K stake in Gilead Sciences
What's the deal? MidFirst BankDealroom has a profile for this one. Try Dealroom → acquired a new position in Gilead SciencesDealroom has a profile for this one. Try Dealroom → worth roughly $810,000 in the second quarter, buying 6,414 shares of the biopharmaceutical company. The disclosure came in the bank's latest 13F filing with the Securities and Exchange Commission.
What the company does: Gilead Sciences develops and markets treatments across areas including HIV, liver disease, and oncology. The stock trades on the Nasdaq under the ticker GILD.
Who else is buying: Several other institutional investors adjusted their holdings. Vermillion & White Wealth Management Group grew its stake by 71.4%, while Wealth Preservation Advisors lifted its position by 60%.
What insiders are doing: Executives have been selling. CEO Daniel O'Day sold 15,000 shares on June 1 at an average $131.46, a $1.97 million transaction, while sales executive Johanna Mercier sold 3,000 shares on June 15 at $123.92. Both trades ran under pre-arranged Rule 10b5-1 plans. Insiders sold 51,000 shares worth $6,568,860 over the past 90 days and own 0.30% of the stock.
What analysts think: Ratings remain broadly positive. Morgan Stanley kept an "overweight" rating with a $165 target, and Needham reissued a "buy" with a $170 target, though Leerink Partners downgraded the stock to "market perform" and cut its target to $127.
The signal: A new stake alongside continued institutional buying points to steady confidence in Gilead, even as insiders trim their positions and analysts split on near-term upside.
Read more: Ticker Report
Image credit: Embajada de EEUU en la Argentina
