Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Purchases 1,019 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 1,019 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were purchased at an average price of $41.15 per share, for a total transaction of $41,931.85. Following the acquisition, the insider directly owned 375,549 shares of the company’s stock, valued at $15,453,841.35. This trade represents a 0.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, December 26th, Opaleye Management Inc. acquired 1,626 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $41.68 per share, with a total value of $67,771.68.
• On Tuesday, December 23rd, Opaleye Management Inc. acquired 260 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $41.66 per share, for a total transaction of $10,831.60.
• On Wednesday, December 17th, Opaleye Management Inc. bought 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. bought 2,524 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $37.81 per share, with a total value of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. purchased 4,340 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Trading Up 6.4%

NASDAQ:SLGL opened at $44.54 on Tuesday. Sol-Gel Technologies Ltd. has a 1-year low of $4.02 and a 1-year high of $52.26. The firm has a market capitalization of $124.27 million, a price-to-earnings ratio of -13.66 and a beta of 1.35. The business’s fifty day moving average price is $38.61 and its 200 day moving average price is $26.18.

Sol-Gel Technologies (NASDAQ:SLGL) last released its 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). The business had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.30 million. Sol-Gel Technologies had a negative net margin of 47.37% and a negative return on equity of 33.61%. Equities analysts forecast that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

SLGL has been the subject of several recent research reports. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Sol-Gel Technologies in a research note on Monday, December 22nd. Zacks Research raised Sol-Gel Technologies to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Sol-Gel Technologies has a consensus rating of “Hold” and an average target price of $50.00.

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.