Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Purchases $67,771.68 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 1,626 shares of the stock in a transaction dated Friday, December 26th. The shares were acquired at an average price of $41.68 per share, for a total transaction of $67,771.68. Following the completion of the purchase, the insider directly owned 377,435 shares in the company, valued at approximately $15,731,490.80. This trade represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, December 23rd, Opaleye Management Inc. purchased 260 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $41.66 per share, with a total value of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. bought 1,019 shares of Sol-Gel Technologies stock. The stock was 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. purchased 2,735 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $40.37 per share, with a total value of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. purchased 2,524 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost 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 stock was acquired at an average price of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Stock Performance

Sol-Gel Technologies stock traded up $2.69 during mid-day trading on Monday, hitting $44.54. 36,276 shares of the company traded hands, compared to its average volume of 21,877. The stock has a market cap of $124.27 million, a price-to-earnings ratio of -13.66 and a beta of 1.35. Sol-Gel Technologies Ltd. has a one year low of $4.02 and a one year high of $52.26. The stock has a fifty day moving average price of $38.52 and a 200-day moving average price of $25.91.

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

Wall Street Analyst Weigh In

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

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.