Insider Buying: Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Purchases $16,934.55 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 229 shares of Sol-Gel Technologies stock in a transaction that occurred on Friday, July 10th. The stock was purchased at an average cost of $73.95 per share, with a total value of $16,934.55. Following the completion of the acquisition, the insider directly owned 492,241 shares in the company, valued at $36,401,221.95. This represents a 0.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% 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, July 8th, Opaleye Management Inc. purchased 300 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $73.69 per share, for a total transaction 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 price of $71.97 per share, with a total value of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. acquired 312 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost 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 shares were purchased at an average price of $66.87 per share, for a total transaction of $129,527.19.
• On Tuesday, May 12th, Opaleye Management Inc. bought 1,500 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $67.98 per share, for a total transaction of $101,970.00.

Sol-Gel Technologies Trading Down 3.2%

Sol-Gel Technologies stock traded down $2.41 during mid-day trading on Friday, hitting $73.95. The stock had a trading volume of 54,096 shares, compared to its average volume of 34,500. Sol-Gel Technologies Ltd. has a one year low of $7.62 and a one year high of $97.97. The firm has a market capitalization of $207.80 million, a P/E ratio of -217.49 and a beta of 1.12. The firm’s 50 day moving average is $72.96 and its 200 day moving average is $70.94.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $0.90 million. As a group, equities research analysts forecast that Sol-Gel Technologies Ltd. will post -9.1 earnings per share for the current year.

Institutional Trading of Sol-Gel Technologies

A number of large investors have recently added to or reduced their stakes in SLGL. Yelin Lapidot Holdings Management Ltd. purchased a new stake in shares of Sol-Gel Technologies during the 4th quarter worth approximately $748,000. Affinity Asset Advisors LLC purchased a new position in shares of Sol-Gel Technologies in the first quarter valued at $2,773,000. Finally, Opaleye Management Inc. grew its holdings 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 valued at $19,121,000 after purchasing an additional 248,904 shares in the last quarter. Institutional investors own 26.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.