Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Buys 1,937 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 1,937 shares of Sol-Gel Technologies stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $66.87 per share, for a total transaction of $129,527.19. Following the completion of the purchase, the insider directly owned 488,437 shares in the company, valued at $32,661,782.19. The trade was a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Tuesday, May 12th, Opaleye Management Inc. acquired 1,500 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $67.98 per share, for a total transaction of $101,970.00.

Sol-Gel Technologies Stock Performance

Shares of NASDAQ:SLGL opened at $68.68 on Friday. The stock has a market capitalization of $192.99 million, a price-to-earnings ratio of -30.80 and a beta of 1.16. Sol-Gel Technologies Ltd. has a 1-year low of $6.80 and a 1-year high of $97.97. The company’s fifty day moving average is $76.30 and its two-hundred day moving average is $60.92.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, March 19th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.46). The business had revenue of $0.70 million for the quarter, compared to analyst estimates of $6.50 million. Sol-Gel Technologies had a negative return on equity of 24.29% and a negative net margin of 31.60%.

Hedge Funds Weigh In On Sol-Gel Technologies

Several large investors have recently bought and sold shares of SLGL. Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies during the 4th quarter valued at about $748,000. Affinity Asset Advisors LLC bought a new position in shares of Sol-Gel Technologies during the 1st quarter valued at about $2,773,000. Finally, Opaleye Management Inc. boosted its position in shares of Sol-Gel Technologies by 121.5% during the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock valued at $19,121,000 after purchasing an additional 248,904 shares in the last quarter. Institutional investors and hedge funds own 26.18% of the company’s stock.

Wall Street Analyst Weigh In

SLGL has been the topic of a number of analyst reports. Weiss Ratings raised shares of Sol-Gel Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Wall Street Zen raised shares of Sol-Gel Technologies from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective (up from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $110.00.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies, Inc (NASDAQ: SLGL) is a U.S.-based advanced materials company specializing in the development and commercialization of nanostructured materials using proprietary sol-gel processes. Leveraging expertise in materials chemistry and thin-film deposition, the company focuses on the production of metal oxide powders, sols, coatings and functional inks designed to enhance performance in a variety of industrial and commercial applications.

The company’s product portfolio includes corrosion- and abrasion-resistant coatings, dielectric and conductive films, catalyst supports and specialty fillers.