Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Acquires $208,664.52 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 3,018 shares of the business’s stock in a transaction on Friday, September 4th. The stock was acquired at an average price of $69.14 per share, with a total value of $208,664.52. Following the transaction, the insider owned 529,918 shares in the company, valued at approximately $36,638,530.52. The trade was a 0.57% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more 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 Wednesday, September 9th, Opaleye Management Inc. bought 3,097 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $68.70 per share, for a total transaction of $212,763.90.
• On Tuesday, September 8th, Opaleye Management Inc. bought 3,861 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $68.82 per share, with a total value of $265,714.02.
• On Monday, August 31st, Opaleye Management Inc. purchased 5,217 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $68.27 per share, with a total value of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. purchased 35,113 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $69.32 per share, for a total transaction of $2,434,033.16.
• On Friday, July 10th, Opaleye Management Inc. acquired 229 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $73.95 per share, with a total value of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. acquired 300 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $73.69 per share, with a total value of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $71.97 per share, with a total value of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. acquired 312 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $71.99 per share, for a total transaction of $22,460.88.

Sol-Gel Technologies Stock Down 1.3%

Shares of SLGL opened at $65.94 on Friday. Sol-Gel Technologies Ltd. has a 12-month low of $23.15 and a 12-month high of $97.97. The firm has a market capitalization of $185.29 million, a PE ratio of -11.69 and a beta of 1.12. The stock’s fifty day simple moving average is $77.88 and its 200-day simple moving average is $76.73.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results on Friday, August 21st. The company reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($2.36) by $1.23. The firm had revenue of $0.59 million during the quarter, compared to analyst estimates of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. Analysts anticipate that Sol-Gel Technologies Ltd. will post -6.06 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Navellier & Associates Inc. acquired a new position in shares of Sol-Gel Technologies during the 2nd quarter worth approximately $429,000. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies in the 4th quarter valued at approximately $748,000. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies in the 1st quarter valued at approximately $2,773,000. Finally, Opaleye Management Inc. grew its stake in shares of Sol-Gel Technologies by 121.5% in the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock valued at $19,121,000 after buying an additional 248,904 shares in the last quarter. 26.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. TD Cowen started coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They issued a “buy” rating on the stock. Mizuho started coverage on shares of Sol-Gel Technologies in a report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 target price for the company. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sol-Gel Technologies has a consensus rating of “Moderate Buy” and an average target price of $197.50.

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.