Insider Buying: Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Buys 1,019 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 1,019 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was purchased at an average price of $41.15 per share, with a total value of $41,931.85. Following the transaction, the insider owned 375,549 shares of the company’s stock, valued at approximately $15,453,841.35. This represents a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% 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, December 26th, Opaleye Management Inc. acquired 1,626 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $41.68 per share, for a total transaction of $67,771.68.
• On Tuesday, December 23rd, Opaleye Management Inc. acquired 260 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $41.66 per share, for a total transaction of $10,831.60.
• On Wednesday, December 17th, Opaleye Management Inc. bought 2,735 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $40.37 per share, with a total value of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. bought 2,524 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $37.81 per share, with a total value of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. purchased 4,340 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Stock Up 6.4%

Shares of SLGL traded up $2.69 during mid-day trading on Monday, reaching $44.54. 36,276 shares of the company’s stock were exchanged, compared to its average volume of 21,877. Sol-Gel Technologies Ltd. has a 52-week low of $4.02 and a 52-week high of $52.26. The company has a market cap of $124.27 million, a price-to-earnings ratio of -13.66 and a beta of 1.35. The company has a 50-day simple moving average of $38.52 and a two-hundred day simple moving average of $25.91.

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

Wall Street Analyst Weigh In

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

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.