Opaleye Management Inc. Acquires 1,631 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 1,631 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $66.80 per share, with a total value of $108,950.80. Following the purchase, the insider owned 538,507 shares in the company, valued at approximately $35,972,267.60. This represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more 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 Friday, September 11th, Opaleye Management Inc. purchased 1,493 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $65.94 per share, for a total transaction of $98,448.42.
• On Wednesday, September 9th, Opaleye Management Inc. acquired 3,097 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $68.70 per share, with a total value of $212,763.90.
• On Tuesday, September 8th, Opaleye Management Inc. bought 3,861 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $68.82 per share, for a total transaction of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. purchased 3,018 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost 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 bought at an average cost of $68.27 per share, for a total transaction 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. purchased 229 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $73.95 per share, for a total transaction of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. acquired 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. bought 1,400 shares of Sol-Gel Technologies stock. The shares were acquired 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 stock was bought at an average price of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Trading Down 1.2%

NASDAQ SLGL traded down $0.76 on Monday, reaching $65.18. 27,890 shares of the stock were exchanged, compared to its average volume of 40,894. The firm has a market capitalization of $183.16 million, a PE ratio of -11.56 and a beta of 1.12. Sol-Gel Technologies Ltd. has a one year low of $23.15 and a one year high of $97.97. The company’s 50-day simple moving average is $77.88 and its two-hundred day simple moving average is $76.70.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($2.36) by $1.23. The company had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. Sell-side analysts forecast that Sol-Gel Technologies Ltd. will post -6.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho started coverage on shares of Sol-Gel Technologies in a research note on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price objective on the stock. TD Cowen initiated coverage on shares of Sol-Gel Technologies in a research report on Friday, May 29th. They issued a “buy” rating for the company. HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a research note on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Sol-Gel Technologies stock. Navellier & Associates Inc. bought a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,785 shares of the company’s stock, valued at approximately $429,000. Navellier & Associates Inc. owned 0.21% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is currently owned by institutional investors.

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.