Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Acquires 1,400 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 1,400 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average price of $71.97 per share, for a total transaction of $100,758.00. Following the completion of the purchase, the insider directly owned 491,712 shares in the company, valued at $35,388,512.64. This trade represents a 0.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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, July 1st, Opaleye Management Inc. bought 312 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $71.99 per share, with a total value of $22,460.88.
• On Wednesday, May 13th, Opaleye Management Inc. acquired 1,937 shares of Sol-Gel Technologies stock. The stock was acquired 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 acquired at an average cost of $67.98 per share, for a total transaction of $101,970.00.

Sol-Gel Technologies Price Performance

Shares of Sol-Gel Technologies stock traded up $2.02 during trading hours on Thursday, reaching $74.01. The company had a trading volume of 28,667 shares, compared to its average volume of 34,555. The firm 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 one year low of $6.96 and a one year high of $97.97. The business has a fifty day simple moving average of $72.82 and a 200 day simple moving average of $69.52.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Sol-Gel Technologies

A number of institutional investors have recently bought and sold shares of SLGL. Opaleye Management Inc. raised its position in shares of Sol-Gel Technologies by 121.5% in the 4th 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 purchased a new stake in Sol-Gel Technologies in the first quarter worth $2,773,000. Finally, Yelin Lapidot Holdings Management Ltd. purchased a new stake in Sol-Gel Technologies in the fourth quarter worth $748,000. 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.