Opaleye Management Inc. Acquires 3,861 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 3,861 shares of the stock in a transaction dated Tuesday, September 8th. The shares were bought at an average price of $68.82 per share, with a total value of $265,714.02. Following the completion of the transaction, the insider directly owned 533,779 shares of the company’s stock, valued at $36,734,670.78. The trade was a 0.73% 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 Wednesday, September 9th, Opaleye Management Inc. bought 3,097 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $68.70 per share, for a total transaction of $212,763.90.
• On Friday, September 4th, Opaleye Management Inc. bought 3,018 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $69.14 per share, for a total transaction of $208,664.52.
• On Monday, August 31st, Opaleye Management Inc. bought 5,217 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $68.27 per share, with a total value of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. purchased 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 price 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 stock was purchased at an average cost 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 purchased at an average price of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Stock Down 3.5%

SLGL opened at $66.79 on Friday. Sol-Gel Technologies Ltd. has a twelve month low of $23.15 and a twelve month high of $97.97. The company has a fifty day moving average of $78.04 and a 200-day moving average of $76.81. The stock has a market cap of $187.68 million, a PE ratio of -11.84 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.36) by $1.23. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. The business had revenue of $0.59 million for the quarter, compared to analyst estimates of $0.07 million. Sell-side analysts anticipate that Sol-Gel Technologies Ltd. will post -8.38 EPS for the current fiscal year.

Institutional Trading of Sol-Gel Technologies

Several large investors have recently made changes to their positions in SLGL. Yelin Lapidot Holdings Management Ltd. bought a new stake in Sol-Gel Technologies in the 4th quarter valued at about $748,000. Opaleye Management Inc. boosted its holdings in Sol-Gel Technologies by 121.5% in the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after acquiring an additional 248,904 shares in the last quarter. Affinity Asset Advisors LLC bought a new position in Sol-Gel Technologies in the first quarter worth approximately $2,773,000. Finally, Navellier & Associates Inc. acquired a new stake in Sol-Gel Technologies in the second quarter valued at approximately $429,000. 26.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Wall Street Zen cut Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Mizuho began 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 objective for the company. Finally, TD Cowen initiated coverage on shares of Sol-Gel Technologies in a research report on Friday, May 29th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.50.

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.