Insider Buying: Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Buys 1,493 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 1,493 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was purchased at an average cost of $65.94 per share, with a total value of $98,448.42. Following the completion of the acquisition, the insider owned 540,000 shares of the company’s stock, valued at $35,607,600. The trade was a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% 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 Thursday, September 10th, Opaleye Management Inc. bought 1,631 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $66.80 per share, for a total transaction of $108,950.80.
• On Wednesday, September 9th, Opaleye Management Inc. bought 3,097 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $68.70 per share, with a total value of $212,763.90.
• On Tuesday, September 8th, Opaleye Management Inc. purchased 3,861 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $68.82 per share, for a total transaction of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. purchased 3,018 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $69.14 per share, for a total transaction of $208,664.52.
• On Monday, August 31st, Opaleye Management Inc. purchased 5,217 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $68.27 per share, for a total transaction of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. acquired 35,113 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $69.32 per share, with a total value of $2,434,033.16.
• On Friday, July 10th, Opaleye Management Inc. acquired 229 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $73.95 per share, with a total value of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. bought 300 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $73.69 per share, for a total transaction of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $71.97 per share, for a total transaction of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. acquired 312 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Trading Down 1.2%

SLGL traded down $0.76 during trading on Monday, reaching $65.18. 27,890 shares of the company were exchanged, compared to its average volume of 40,894. Sol-Gel Technologies Ltd. has a 52 week low of $23.15 and a 52 week high of $97.97. The firm has a 50 day moving average of $77.88 and a 200 day moving average of $76.70. The stock has a market cap of $183.16 million, a P/E ratio of -11.56 and a beta of 1.12.

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 return on equity of 44.05% and a negative net margin of 910.14%.The company had revenue of $0.59 million for the quarter, compared to analysts’ expectations of $0.07 million. As a group, analysts forecast that Sol-Gel Technologies Ltd. will post -6.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. Mizuho started coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price objective on the stock. TD Cowen initiated coverage on Sol-Gel Technologies in a research report on Friday, May 29th. They issued a “buy” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $110.00 price target on shares of Sol-Gel Technologies in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.50.

Hedge Funds Weigh In On Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Affinity Asset Advisors LLC bought a new position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 35,000 shares of the company’s stock, valued at approximately $2,773,000. Affinity Asset Advisors LLC owned about 1.25% of Sol-Gel Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 26.18% of the company’s stock.

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.