Opaleye Management Inc. Buys 3,018 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 3,018 shares of the business’s stock in a transaction on Friday, September 4th. The stock was bought at an average cost of $69.14 per share, with a total value of $208,664.52. Following the completion of the purchase, the insider directly owned 529,918 shares in the company, valued at approximately $36,638,530.52. The trade was a 0.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Wednesday, September 9th, Opaleye Management Inc. purchased 3,097 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $68.70 per share, for a total transaction 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 cost of $68.82 per share, with a total value of $265,714.02.
• On Monday, August 31st, Opaleye Management Inc. acquired 5,217 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $68.27 per share, with a total value of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. acquired 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. bought 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 cost of $73.69 per share, with a total value of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock. The stock was 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. purchased 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 Price Performance

Shares of NASDAQ SLGL opened at $66.79 on Friday. The company has a market capitalization of $187.68 million, a P/E ratio of -11.84 and a beta of 1.12. The company has a 50 day simple moving average of $78.04 and a 200-day simple moving average of $76.81. Sol-Gel Technologies Ltd. has a 1 year low of $23.15 and a 1 year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings data on Friday, August 21st. The company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($2.36) by $1.23. The firm had revenue of $0.59 million for the quarter, compared to analysts’ expectations 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, research analysts expect that Sol-Gel Technologies Ltd. will post -8.38 EPS for the current year.

Wall Street Analysts Forecast Growth

SLGL has been the subject of a number of research reports. TD Cowen started coverage on Sol-Gel Technologies in a research note on Friday, May 29th. They issued a “buy” rating for the company. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. Mizuho began 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. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. 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’s stock. According to data from MarketBeat.com, Sol-Gel Technologies has an average rating of “Moderate Buy” and a consensus target price of $197.50.

Hedge Funds Weigh In On Sol-Gel Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLGL. Opaleye Management Inc. grew its stake in shares of 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 purchased a new stake in shares of Sol-Gel Technologies during the first quarter worth $2,773,000. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies in the fourth quarter valued at $748,000. Finally, Navellier & Associates Inc. acquired a new stake in shares of Sol-Gel Technologies in the second quarter valued at $429,000. Hedge funds and other institutional investors own 26.18% of the company’s stock.

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.