Abacus FCF Advisors LLC reduced its stake in Gilead Sciences by 16.0% during the third quarter, selling 26,340 shares to leave a holding of 138,674 shares. This position represents approximately 2.0% of the firm’s overall portfolio and ranks as its 24th largest holding. At the end of the period, the remaining shares were valued at roughly $15.4 million, reflecting a strategic reallocation of capital away from the biopharmaceutical sector.

Several large investors have recently modified their exposure to Gilead. Norges Bank initiated a new position valued at approximately $2.15 billion in the second quarter, while Ameriprise Financial increased its stake by 397.6%, acquiring over 5.39 million additional shares. Invesco added 3.39 million shares, boosting its position by 33.5%, and Assenagon Asset Management more than doubled its holding in the third quarter, purchasing 2.17 million shares. Kingstone Capital Partners also established a position worth $238.1 million during the second quarter. Together, institutional investors now account for over 83% of the company’s outstanding shares.

Company insiders have reduced their holdings by 0.27% over the past ninety days, selling a combined 126,257 shares valued at approximately $15.6 million. Notable transactions include a 3,000-share sale by Johanna Mercier and a 5,000-share sale by Director Jeffrey Bluestone. On the research front, Morgan Stanley, Mizuho, Wells Fargo, HSBC and Argus have all revised their guidance higher, with price targets raised by an average of 7% over the past two months and a consensus rating of Moderate Buy across 28 analysts.