Opaleye Management Inc. Purchases 260 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 260 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was purchased at an average cost of $41.66 per share, for a total transaction of $10,831.60. Following the completion of the acquisition, the insider owned 375,809 shares in the company, valued at approximately $15,656,202.94. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more 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, December 26th, Opaleye Management Inc. purchased 1,626 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $41.68 per share, with a total value of $67,771.68.
• On Monday, December 22nd, Opaleye Management Inc. purchased 1,019 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $41.15 per share, for a total transaction of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. acquired 2,735 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $40.37 per share, for a total transaction of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. acquired 2,524 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $37.81 per share, with a total value of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. bought 4,340 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $37.37 per share, with a total value of $162,185.80.

Sol-Gel Technologies Stock Performance

Shares of SLGL stock opened at $42.46 on Wednesday. Sol-Gel Technologies Ltd. has a fifty-two week low of $4.02 and a fifty-two week high of $52.26. The stock’s fifty day moving average price is $38.66 and its two-hundred day moving average price is $26.42. The company has a market cap of $118.46 million, a PE ratio of -13.02 and a beta of 1.36.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Thursday, November 20th. The company reported ($2.13) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($0.04). The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.30 million. Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%. On average, equities analysts predict that Sol-Gel Technologies Ltd. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Sol-Gel Technologies in a research report on Monday, December 22nd. Wall Street Zen cut shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Zacks Research upgraded shares of Sol-Gel Technologies to a “hold” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.00.

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.