Insider Buying: Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Acquires $108,950.80 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 1,631 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average price of $66.80 per share, for a total transaction of $108,950.80. Following the purchase, the insider owned 538,507 shares in the company, valued at $35,972,267.60. This represents a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 11th, Opaleye Management Inc. acquired 1,493 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $65.94 per share, with a total value of $98,448.42.
• On Wednesday, September 9th, Opaleye Management Inc. bought 3,097 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $68.70 per share, with a total value of $212,763.90.
• On Tuesday, September 8th, Opaleye Management Inc. acquired 3,861 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $68.82 per share, with a total value of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. bought 3,018 shares of Sol-Gel Technologies stock. The shares were acquired 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 stock was acquired 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 stock was acquired 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 shares were acquired 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 shares were 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. acquired 1,400 shares of Sol-Gel Technologies stock. The shares were acquired 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 stock was acquired at an average price of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Stock Performance

Shares of NASDAQ:SLGL opened at $63.44 on Thursday. Sol-Gel Technologies Ltd. has a fifty-two week low of $23.15 and a fifty-two week high of $97.97. The business has a 50-day simple moving average of $77.19 and a two-hundred day simple moving average of $76.18. The firm has a market cap of $178.27 million, a price-to-earnings ratio of -11.25 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 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 analysts’ expectations of $0.07 million. As a group, research analysts predict that Sol-Gel Technologies Ltd. will post -6.06 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Navellier & Associates Inc. bought a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,785 shares of the company’s stock, valued at approximately $429,000. Navellier & Associates Inc. owned about 0.21% of Sol-Gel Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 26.18% of the company’s stock.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd. is an Israeli specialty pharmaceutical company focused on developing topical dermatological treatments. The company uses proprietary microencapsulation technology designed to improve the delivery, stability, and tolerability of active pharmaceutical ingredients applied to the skin.

Sol-Gel’s products include TWYNEO Cream, a topical combination of tretinoin and benzoyl peroxide for acne, and EPSOLAY Cream, a microencapsulated benzoyl peroxide treatment for inflammatory lesions associated with rosacea.