Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Buys 5,217 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 5,217 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average price of $68.27 per share, for a total transaction of $356,164.59. Following the completion of the acquisition, the insider owned 525,217 shares of the company’s stock, valued at $35,856,564.59. This trade represents a 1.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 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 Friday, August 28th, Opaleye Management Inc. bought 35,113 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $69.32 per share, with a total value of $2,434,033.16.
• On Friday, July 10th, Opaleye Management Inc. purchased 229 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $73.95 per share, for a total transaction of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. purchased 300 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $73.69 per share, for a total transaction of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. acquired 1,400 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $71.97 per share, with a total value of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. acquired 312 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Stock Performance

Shares of Sol-Gel Technologies stock opened at $69.10 on Tuesday. The business’s 50 day simple moving average is $78.66 and its 200 day simple moving average is $77.10. Sol-Gel Technologies Ltd. has a 52-week low of $21.10 and a 52-week high of $97.97. The firm has a market cap of $194.17 million, a PE ratio of -12.25 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings results on Thursday, August 20th. The company reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.36) by $1.23. The firm had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%. As a group, equities research analysts predict that Sol-Gel Technologies Ltd. will post -8.38 EPS for the current year.

Institutional Investors Weigh In On Sol-Gel Technologies

Hedge funds have recently added to or reduced their stakes in the business. Navellier & Associates Inc. bought a new position in Sol-Gel Technologies during the second quarter worth $429,000. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies during the 1st quarter worth about $2,773,000. Opaleye Management Inc. boosted its holdings in shares of Sol-Gel Technologies by 121.5% during the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after buying an additional 248,904 shares during the period. Finally, Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Sol-Gel Technologies during the 4th quarter worth about $748,000. Institutional investors and hedge funds own 26.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SLGL. Mizuho assumed coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price target on the stock. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. Weiss Ratings downgraded Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $110.00 price objective on shares of Sol-Gel Technologies in a research note on Monday, July 20th. One 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

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.