Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Purchases 5,217 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 5,217 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average cost of $68.27 per share, for a total transaction of $356,164.59. Following the purchase, the insider owned 525,217 shares of the company’s stock, valued at $35,856,564.59. This represents a 1.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, August 28th, Opaleye Management Inc. acquired 35,113 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $69.32 per share, with a total value of $2,434,033.16.
• On Friday, July 10th, Opaleye Management Inc. acquired 229 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $73.95 per share, with a total value of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. bought 300 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $73.69 per share, for a total transaction of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $71.97 per share, for a total transaction of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. bought 312 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $71.99 per share, for a total transaction of $22,460.88.

Sol-Gel Technologies Trading Up 0.4%

Shares of NASDAQ:SLGL traded up $0.29 during trading on Monday, reaching $69.10. The company’s stock had a trading volume of 111,268 shares, compared to its average volume of 39,865. Sol-Gel Technologies Ltd. has a 12 month low of $21.10 and a 12 month high of $97.97. The firm’s 50 day simple moving average is $78.75 and its two-hundred day simple moving average is $77.07. The stock has a market capitalization of $194.17 million, a PE ratio of -12.25 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings results on Thursday, August 20th. The company reported ($1.13) EPS for the quarter, topping the consensus estimate of ($2.36) by $1.23. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%.The company had revenue of $0.59 million during the quarter, compared to analyst estimates of $0.07 million. Research analysts anticipate that Sol-Gel Technologies Ltd. will post -8.38 EPS for the current fiscal year.

Institutional Trading of Sol-Gel Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Navellier & Associates Inc. purchased a new position in shares of Sol-Gel Technologies during the second quarter valued at approximately $429,000. Yelin Lapidot Holdings Management Ltd. bought a new position in shares of Sol-Gel Technologies during the fourth quarter valued at approximately $748,000. Affinity Asset Advisors LLC purchased a new stake in shares of Sol-Gel Technologies in the first quarter worth approximately $2,773,000. Finally, Opaleye Management Inc. raised 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 worth $19,121,000 after buying an additional 248,904 shares during the period. Institutional investors own 26.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SLGL shares. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Mizuho assumed 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 for the company. Finally, TD Cowen began coverage on shares of Sol-Gel Technologies in a research report on Friday, May 29th. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sol-Gel Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target 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.