Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Buys 2,173 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 2,173 shares of Sol-Gel Technologies stock in a transaction on Thursday, January 22nd. The shares were acquired at an average cost of $56.57 per share, with a total value of $122,926.61. Following the completion of the acquisition, the insider owned 448,693 shares of the company’s stock, valued at $25,382,563.01. The trade was a 0.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, January 23rd, Opaleye Management Inc. purchased 1,151 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $55.98 per share, for a total transaction of $64,432.98.
• On Wednesday, December 31st, Opaleye Management Inc. acquired 22,497 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $41.99 per share, with a total value of $944,649.03.
• On Tuesday, December 30th, Opaleye Management Inc. acquired 35,169 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $41.99 per share, with a total value of $1,476,746.31.
• On Monday, December 29th, Opaleye Management Inc. bought 8,638 shares of Sol-Gel Technologies stock. The stock was bought at an average cost 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 bought at an average price of $41.68 per share, for a total transaction of $67,771.68.
• On Tuesday, December 23rd, Opaleye Management Inc. purchased 260 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $41.66 per share, with a total value of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. acquired 1,019 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $41.15 per share, for a total transaction of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. acquired 2,735 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $40.37 per share, for a total transaction of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. acquired 2,524 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $37.81 per share, with a total value of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. bought 4,340 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $37.37 per share, with a total value of $162,185.80.

Sol-Gel Technologies Trading Up 1.6%

NASDAQ SLGL traded up $0.94 on Friday, reaching $58.44. 25,090 shares of the stock were exchanged, compared to its average volume of 17,739. Sol-Gel Technologies Ltd. has a one year low of $4.02 and a one year high of $75.00. The firm has a market capitalization of $163.05 million, a PE ratio of -17.93 and a beta of 1.35. The company’s 50-day simple moving average is $46.19 and its two-hundred day simple moving average is $32.07.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Zacks Research upgraded Sol-Gel Technologies to a “hold” rating in a research report on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and set a $110.00 target price (up previously from $50.00) on shares of Sol-Gel Technologies in a research note on Tuesday. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.