Should You Consider Adding Gilead Sciences (GILD) to Your Portfolio?

Ariel Investments, an investment management company, released its “Ariel Global Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined -10.05%, underperforming the MSCI ACWI Index and the MSCI ACWI Value Index, which returned -6.82% and -7.66%, respectively. Multiple headwinds from all over the world affected the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Ariel Investment highlighted stocks like Gilead Sciences, Inc. (NASDAQ:GILD) in the Q3 2022 investor letter. Headquartered in Foster City, California, Gilead Sciences, Inc. (NASDAQ:GILD) is a biopharmaceutical company. On December 2, 2022, Gilead Sciences, Inc. (NASDAQ:GILD) stock closed at $89.03 per share. One-month return of Gilead Sciences, Inc. (NASDAQ:GILD) was 9.29%, and its shares gained 28.10% of their value over the last 52 weeks. Gilead Sciences, Inc. (NASDAQ:GILD) has a market capitalization of $111.665 billion.

Ariel Investment made the following comment about Gilead Sciences, Inc. (NASDAQ:GILD) in its Q3 2022 investor letter:

“At the stock level, biopharmaceutical company Gilead Sciences, Inc. (NASDAQ:GILD) was the top contributor in the quarter based on positive data released in a study evaluating Trodelvy versus comparative chemotherapy in patients with metastatic breast cancer. The detailed findings increased investor confidence the drug would receive incremental approvals for a broader range of breast cancer treatments. Shares also received a boost on news the TAF patent portfolio for HIV drugs will be extended from the middle of this decade through the early 2030s, thereby lengthening the company’s long-term opportunity in the virology market.”

Gilead Sciences, Inc. (NASDAQ:GILD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held Gilead Sciences, Inc. (NASDAQ:GILD) at the end of the third quarter, which was 58 in the previous quarter.

We discussed Gilead Sciences, Inc. (NASDAQ:GILD) in another article and shared the list of safe tech stocks for a retirement stock portfolio. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.