Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Purchases $64,432.98 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 1,151 shares of the stock in a transaction dated Friday, January 23rd. The shares were bought at an average price of $55.98 per share, with a total value of $64,432.98. Following the completion of the transaction, the insider directly owned 449,844 shares of the company’s stock, valued at $25,182,267.12. The trade was a 0.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Thursday, January 22nd, Opaleye Management Inc. purchased 2,173 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $56.57 per share, for a total transaction of $122,926.61.
• On Wednesday, December 31st, Opaleye Management Inc. purchased 22,497 shares of Sol-Gel Technologies stock. The stock was purchased at an average price 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 shares were acquired 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. acquired 8,638 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $41.85 per share, with a total value 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 cost of $41.68 per share, with a total value 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 cost of $41.66 per share, for a total transaction of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. acquired 1,019 shares of Sol-Gel Technologies stock. The stock was purchased at an average price 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 purchased at an average cost 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 purchased at an average cost 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 price of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Trading Up 1.6%

Shares of SLGL stock traded up $0.94 on Friday, hitting $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’s 50 day moving average is $46.19 and its two-hundred day moving average is $32.07. The firm has a market capitalization of $163.05 million, a PE ratio of -17.93 and a beta of 1.35.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings data on Thursday, November 20th. The company reported ($2.13) EPS 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%. On average, sell-side analysts expect that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current year.

Analysts Set New Price Targets

SLGL has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $110.00 price objective (up previously from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday. Zacks Research raised shares of Sol-Gel Technologies to a “hold” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen lowered shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $110.00.

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.