Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Purchases 312 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 312 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were acquired at an average price of $71.99 per share, for a total transaction of $22,460.88. Following the transaction, the insider owned 490,312 shares in the company, valued at $35,297,560.88. This represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $71.97 per share, with a total value of $100,758.00.
• On Wednesday, May 13th, Opaleye Management Inc. acquired 1,937 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $66.87 per share, with a total value of $129,527.19.
• On Tuesday, May 12th, Opaleye Management Inc. bought 1,500 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $67.98 per share, for a total transaction of $101,970.00.

Sol-Gel Technologies Trading Up 2.8%

NASDAQ SLGL traded up $2.02 on Thursday, hitting $74.01. 28,667 shares of the company were exchanged, compared to its average volume of 34,555. The company has a market cap of $207.97 million, a PE ratio of -217.67 and a beta of 1.12. Sol-Gel Technologies Ltd. has a 12 month low of $6.96 and a 12 month high of $97.97. The stock has a fifty day moving average of $72.82 and a 200-day moving average of $69.52.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share for the quarter, beating the consensus estimate of ($2.86) by $1.55. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. The firm had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.90 million. On average, analysts expect that Sol-Gel Technologies Ltd. will post -9.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

SLGL has been the topic of a number of research reports. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. TD Cowen assumed coverage on Sol-Gel Technologies in a research note on Friday, May 29th. They issued a “buy” rating for the company. Weiss Ratings downgraded Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Mizuho started coverage on Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 target price on the stock. Finally, Wall Street Zen cut Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sol-Gel Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

Institutional Investors Weigh In On Sol-Gel Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SLGL. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies in the 4th quarter worth about $748,000. Opaleye Management Inc. boosted its stake in Sol-Gel Technologies by 121.5% during the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock valued at $19,121,000 after purchasing an additional 248,904 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in Sol-Gel Technologies during the 1st quarter valued at about $2,773,000. 26.18% of the stock is owned by institutional investors.

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.