Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Acquires 3,097 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 3,097 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average cost of $68.70 per share, with a total value of $212,763.90. Following the completion of the transaction, the insider owned 536,876 shares of the company’s stock, valued at approximately $36,883,381.20. The trade was a 0.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, September 8th, Opaleye Management Inc. bought 3,861 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $68.82 per share, for a total transaction of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. purchased 3,018 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $69.14 per share, for a total transaction of $208,664.52.
• On Monday, August 31st, Opaleye Management Inc. purchased 5,217 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $68.27 per share, for a total transaction of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. acquired 35,113 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $69.32 per share, with a total value 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, for a total transaction 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 cost of $73.69 per share, for a total transaction of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. acquired 1,400 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $71.97 per share, for a total transaction of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. purchased 312 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $71.99 per share, for a total transaction of $22,460.88.

Sol-Gel Technologies Stock Down 0.3%

Sol-Gel Technologies stock opened at $69.18 on Thursday. The stock has a market cap of $194.40 million, a P/E ratio of -12.27 and a beta of 1.12. Sol-Gel Technologies Ltd. has a twelve month low of $23.13 and a twelve month high of $97.97. The company’s 50-day moving average price is $78.18 and its two-hundred day moving average price is $76.93.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings data on Friday, August 21st. The company reported ($1.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.36) by $1.23. The firm had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. Equities analysts anticipate that Sol-Gel Technologies Ltd. will post -8.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Sol-Gel Technologies

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

About Sol-Gel Technologies

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.