Sol-Gel Technologies Ltd. $SLGL Stock: Phoenix Financial Ltd. Reduces Holdings

Phoenix Financial Ltd. decreased its holdings in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 22.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 113,723 shares of the company’s stock after selling 32,424 shares during the quarter. Phoenix Financial Ltd.’s holdings in Sol-Gel Technologies were worth $8,447,000 as of its most recent SEC filing.

Separately, Navellier & Associates Inc. acquired a new stake in shares of Sol-Gel Technologies in the second quarter valued at $429,000. 26.18% of the stock is currently owned by hedge funds and other institutional investors.

Sol-Gel Technologies Stock Down 2.0%

Sol-Gel Technologies stock traded down $1.13 during trading on Friday, reaching $55.12. The stock had a trading volume of 34,620 shares, compared to its average volume of 36,846. Sol-Gel Technologies Ltd. has a 52-week low of $32.51 and a 52-week high of $97.97. The business has a 50 day moving average price of $66.65 and a 200 day moving average price of $73.83. The stock has a market cap of $180.46 million, a PE ratio of -10.54 and a beta of 1.25.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($1.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.07) by $0.35. Sol-Gel Technologies had a negative return on equity of 39.28% and a negative net margin of 1,115.39%. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.15 million. On average, equities analysts predict that Sol-Gel Technologies Ltd. will post -5.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SLGL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Sol-Gel Technologies in a research note on Monday, October 19th. Cantor Fitzgerald started coverage on Sol-Gel Technologies in a report on Wednesday, October 14th. They set an “overweight” rating on the stock. Finally, Zacks Research raised Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $197.50.

Insider Buying and Selling at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. acquired 1,493 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was acquired at an average cost of $65.94 per share, with a total value of $98,448.42. Following the completion of the acquisition, the insider owned 540,000 shares of the company’s stock, valued at $35,607,600. The trade was a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders bought 53,430 shares of company stock valued at $3,684,739. 66.51% of the stock is currently owned by insiders.

About Sol-Gel Technologies

Sol-Gel Technologies is an Israel-based dermatology company that develops topical treatments for skin conditions. Its proprietary technology uses silica-based microencapsulation to formulate active ingredients for topical use. The company’s products include Epsolay, a benzoyl peroxide cream approved in the United States for inflammatory lesions of rosacea, and Twyneo, a topical combination of tretinoin and benzoyl peroxide approved for acne vulgaris. Sol-Gel has pursued commercialization and licensing opportunities in the United States and other markets.