Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Acquires $122,926.61 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 2,173 shares of Sol-Gel Technologies stock in a transaction dated Thursday, January 22nd. The stock was acquired at an average cost of $56.57 per share, for a total transaction of $122,926.61. Following the completion of the transaction, the insider directly owned 448,693 shares in the company, valued at approximately $25,382,563.01. This trade represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 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 Friday, January 23rd, Opaleye Management Inc. purchased 1,151 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $55.98 per share, with a total value 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, for a total transaction of $944,649.03.
• On Tuesday, December 30th, Opaleye Management Inc. acquired 35,169 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $41.99 per share, for a total transaction of $1,476,746.31.
• On Monday, December 29th, Opaleye Management Inc. bought 8,638 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $41.85 per share, with a total value of $361,500.30.
• On Friday, December 26th, Opaleye Management Inc. purchased 1,626 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $41.68 per share, for a total transaction of $67,771.68.
• On Tuesday, December 23rd, Opaleye Management Inc. acquired 260 shares of Sol-Gel Technologies stock. The shares were bought at an average cost 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 shares were bought at an average price of $41.15 per share, with a total value of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. purchased 2,735 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $40.37 per share, with a total value of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. purchased 2,524 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $37.81 per share, for a total transaction of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. acquired 4,340 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $37.37 per share, for a total transaction 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 traded hands, compared to its average volume of 17,739. The company has a market capitalization of $163.05 million, a price-to-earnings ratio of -17.93 and a beta of 1.35. Sol-Gel Technologies Ltd. has a 12 month low of $4.02 and a 12 month high of $75.00. The company’s fifty day simple moving average is $46.19 and its 200 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) EPS for the quarter, missing analysts’ consensus estimates of ($2.09) by ($0.04). The firm 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 anticipate that Sol-Gel Technologies Ltd. will post -0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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