Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Purchases $212,763.90 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 3,097 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average price of $68.70 per share, with a total value of $212,763.90. Following the purchase, the insider directly owned 536,876 shares of the company’s stock, valued at $36,883,381.20. The trade was a 0.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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, September 8th, Opaleye Management Inc. acquired 3,861 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $68.82 per share, for a total transaction of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. acquired 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. acquired 5,217 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $68.27 per share, for a total transaction of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. bought 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. bought 229 shares of Sol-Gel Technologies stock. The shares were purchased at an average price 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 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 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. purchased 312 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Stock Performance

NASDAQ:SLGL opened at $65.94 on Friday. The stock has a 50-day simple moving average of $77.88 and a 200-day simple moving average of $76.73. The stock has a market cap of $185.29 million, a P/E ratio of -11.69 and a beta of 1.12. Sol-Gel Technologies Ltd. has a 1 year low of $23.15 and a 1 year high of $97.97.

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 business had revenue of $0.59 million for the quarter, compared to analyst estimates of $0.07 million. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%. On average, equities research analysts predict that Sol-Gel Technologies Ltd. will post -6.06 EPS for the current year.

Hedge Funds Weigh In On Sol-Gel Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Navellier & Associates Inc. purchased a new stake in shares of Sol-Gel Technologies in the second quarter valued at approximately $429,000. Yelin Lapidot Holdings Management Ltd. purchased a new stake in shares of Sol-Gel Technologies during the 4th quarter worth $748,000. Affinity Asset Advisors LLC purchased a new stake in shares of Sol-Gel Technologies during the 1st quarter worth $2,773,000. Finally, Opaleye Management Inc. grew its stake in shares of Sol-Gel Technologies by 121.5% during the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after purchasing an additional 248,904 shares during the period. Institutional investors and hedge funds own 26.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $110.00 target price on shares of Sol-Gel Technologies in a research report on Monday, July 20th. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen cut Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen began coverage on Sol-Gel Technologies in a report on Friday, May 29th. They issued a “buy” rating for the company. Finally, Mizuho began coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 target price on the stock. One equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.