Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Acquires 3,861 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 3,861 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average cost of $68.82 per share, for a total transaction of $265,714.02. Following the completion of the purchase, the insider directly owned 533,779 shares of the company’s stock, valued at $36,734,670.78. The trade was a 0.73% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major 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 Wednesday, September 9th, Opaleye Management Inc. acquired 3,097 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $68.70 per share, with a total value of $212,763.90.
• On Friday, September 4th, Opaleye Management Inc. acquired 3,018 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $69.14 per share, with a total value of $208,664.52.
• On Monday, August 31st, Opaleye Management Inc. bought 5,217 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $68.27 per share, for a total transaction of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. bought 35,113 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $69.32 per share, for a total transaction of $2,434,033.16.
• On Friday, July 10th, Opaleye Management Inc. purchased 229 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $73.95 per share, with a total value of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. purchased 300 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $73.69 per share, with a total value of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock. The stock was purchased 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 stock was purchased at an average price of $71.99 per share, for a total transaction of $22,460.88.

Sol-Gel Technologies Stock Performance

NASDAQ:SLGL opened at $69.18 on Thursday. The company has a market capitalization of $194.40 million, a P/E ratio of -12.27 and a beta of 1.12. The stock’s 50 day moving average price is $78.18 and its 200 day moving average price is $76.93. Sol-Gel Technologies Ltd. has a 52 week low of $23.13 and a 52 week high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.36) by $1.23. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. The firm had revenue of $0.59 million during the quarter, compared to analysts’ expectations of $0.07 million. As a group, sell-side analysts forecast that Sol-Gel Technologies Ltd. will post -8.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SLGL. Navellier & Associates Inc. bought a new stake in Sol-Gel Technologies during the second quarter valued at about $429,000. Affinity Asset Advisors LLC bought a new stake in Sol-Gel Technologies during the 1st quarter valued at approximately $2,773,000. Opaleye Management Inc. grew its holdings in Sol-Gel Technologies by 121.5% in the 4th 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 during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. bought a new position in Sol-Gel Technologies during the fourth quarter worth $748,000. Institutional investors own 26.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SLGL. Wall Street Zen cut shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. HC Wainwright restated 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 Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Mizuho started coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sol-Gel Technologies has an average rating of “Moderate Buy” and a consensus target price of $197.50.

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.