Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Buys $64,432.98 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 1,151 shares of the stock in a transaction on Friday, January 23rd. The stock was bought at an average price of $55.98 per share, with a total value of $64,432.98. Following the transaction, the insider directly owned 449,844 shares of the company’s stock, valued at approximately $25,182,267.12. The trade was a 0.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large 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 Thursday, January 22nd, Opaleye Management Inc. bought 2,173 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $56.57 per share, for a total transaction of $122,926.61.
• On Wednesday, December 31st, Opaleye Management Inc. bought 22,497 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $41.99 per share, for a total transaction of $944,649.03.
• On Tuesday, December 30th, Opaleye Management Inc. purchased 35,169 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $41.99 per share, with a total value of $1,476,746.31.
• On Monday, December 29th, Opaleye Management Inc. acquired 8,638 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $41.85 per share, for a total transaction of $361,500.30.
• On Friday, December 26th, Opaleye Management Inc. bought 1,626 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $41.68 per share, with a total value of $67,771.68.
• On Tuesday, December 23rd, Opaleye Management Inc. purchased 260 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $41.66 per share, for a total transaction of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. purchased 1,019 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $41.15 per share, with a total value of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. acquired 2,735 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $40.37 per share, with a total value of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. acquired 2,524 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $37.81 per share, for a total transaction of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. bought 4,340 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Stock Performance

Shares of Sol-Gel Technologies stock traded up $0.94 during midday trading on Friday, reaching $58.44. 25,090 shares of the company’s stock traded hands, compared to its average volume of 17,739. The stock has a 50 day moving average of $46.19 and a 200-day moving average of $32.07. Sol-Gel Technologies Ltd. has a 12 month low of $4.02 and a 12 month high of $75.00. The company has a market cap of $163.05 million, a PE ratio of -17.93 and a beta of 1.35.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings results on Thursday, November 20th. The company reported ($2.13) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($0.04). Sol-Gel Technologies had a negative net margin of 47.37% and a negative return on equity of 33.61%. The company had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.30 million. On average, equities analysts anticipate that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLGL has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Sol-Gel Technologies in a research note on Monday, December 29th. Zacks Research upgraded Sol-Gel Technologies to a “hold” rating in a report on Tuesday, October 28th. HC Wainwright restated a “buy” rating and issued a $110.00 target price (up previously from $50.00) on shares of Sol-Gel Technologies in a research note on Tuesday. Finally, Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently 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.