Gilead Sciences Inc is trading at $124.55 (2.1% down) as investors lock in profits following yesterday's rally, pressured by a broader market selloff after the Federal Reserve's cautious interest rate outlook.
- The pullback follows a strong performance yesterday driven by optimism surrounding the company's once-weekly HIV PrEP candidate, Yeztugo, and overall HIV pipeline momentum.
- Today's decline aligns with major indices dropping approximately 1% after the Fed's latest policy decision, suggesting the move is macro-driven rather than due to company-specific headwinds.