Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Buys 260 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 260 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were bought at an average price of $41.66 per share, with a total value of $10,831.60. Following the acquisition, the insider directly owned 375,809 shares of the company’s stock, valued at $15,656,202.94. This represents a 0.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more 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. bought 1,626 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $41.68 per share, with a total value of $67,771.68.
• On Monday, December 22nd, Opaleye Management Inc. acquired 1,019 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $41.15 per share, with a total value of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. bought 2,735 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $40.37 per share, for a total transaction of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. bought 2,524 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost 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 shares were acquired at an average price of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Stock Up 6.4%

SLGL stock traded up $2.69 during midday trading on Monday, hitting $44.54. The company’s stock had a trading volume of 36,276 shares, 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. The stock’s 50-day moving average price is $38.52 and its 200 day moving average price is $25.91. Sol-Gel Technologies Ltd. has a 1 year low of $4.02 and a 1 year high of $52.26.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results on Thursday, November 20th. The company reported ($2.13) EPS for the quarter, missing analysts’ consensus estimates of ($2.09) by ($0.04). The business had revenue of $0.40 million for the quarter, compared to the consensus estimate 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 analysts forecast that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research upgraded shares of Sol-Gel Technologies to a “hold” rating in a research report on Tuesday, October 28th. Finally, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Sol-Gel Technologies in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.