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

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 3,097 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was purchased at an average cost of $68.70 per share, for a total transaction of $212,763.90. Following the completion of the acquisition, the insider owned 536,876 shares in the company, valued at approximately $36,883,381.20. This trade represents a 0.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more 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 Tuesday, September 8th, Opaleye Management Inc. bought 3,861 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $68.82 per share, for a total transaction of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. bought 3,018 shares of Sol-Gel Technologies stock. The stock was acquired at an average price 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 shares were bought at an average price of $68.27 per share, with a total value of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. purchased 35,113 shares of Sol-Gel Technologies stock. The stock was 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 stock was 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. acquired 300 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $73.69 per share, with a total value of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock. The shares were 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 bought at an average cost of $71.99 per share, for a total transaction of $22,460.88.

Sol-Gel Technologies Price Performance

Shares of Sol-Gel Technologies stock traded down $0.19 during midday trading on Wednesday, reaching $69.18. The company had a trading volume of 47,501 shares, compared to its average volume of 65,348. The stock has a fifty day moving average price of $78.18 and a 200 day moving average price of $76.93. Sol-Gel Technologies Ltd. has a fifty-two week low of $23.13 and a fifty-two week high of $97.97. The firm has a market cap of $194.40 million, a PE ratio of -12.27 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Friday, August 21st. The company reported ($1.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.36) by $1.23. The company had revenue of $0.59 million for the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%. As a group, sell-side analysts forecast that Sol-Gel Technologies Ltd. will post -8.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TD Cowen began coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They issued a “buy” rating on the stock. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a report on Monday, July 20th. Finally, Mizuho assumed coverage on 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 research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

Institutional Trading of Sol-Gel Technologies

A number of hedge funds have recently bought and sold shares of the business. Navellier & Associates Inc. bought a new position in Sol-Gel Technologies in the 2nd quarter valued at $429,000. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Sol-Gel Technologies during the 4th quarter worth $748,000. Affinity Asset Advisors LLC purchased a new position in shares of Sol-Gel Technologies in the 1st quarter worth about $2,773,000. Finally, Opaleye Management Inc. boosted its holdings in shares of Sol-Gel Technologies by 121.5% in the 4th 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 last quarter. 26.18% of the stock is currently owned by institutional investors.

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.