Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Sees Large Decline in Short Interest

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 17,100 shares, a drop of 64.2% from the January 31st total of 47,700 shares. Based on an average daily trading volume, of 506,700 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.2% of the company’s stock are short sold.

Sol-Gel Technologies Stock Up 15.6 %

Shares of SLGL stock traded up $0.09 during trading on Friday, reaching $0.67. 52,742 shares of the company’s stock were exchanged, compared to its average volume of 210,509. Sol-Gel Technologies has a twelve month low of $0.33 and a twelve month high of $1.65. The firm’s fifty day moving average price is $0.88 and its 200-day moving average price is $0.69. The stock has a market capitalization of $18.67 million, a PE ratio of -1.97 and a beta of 1.31.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Raymond James Financial Inc. bought a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 108,990 shares of the company’s stock, valued at approximately $101,000. Raymond James Financial Inc. owned 0.39% of Sol-Gel Technologies as of its most recent filing with the Securities and Exchange Commission. 26.18% of the stock is currently owned by institutional investors.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd., together with its subsidiary Sol-Gel Technologies Inc, develops topical dermatological drugs for patients with severe skin conditions in Israel. The company offers Twyneo, a once-daily, non-antibiotic topical cream for the treatment of acne vulgaris; and Epsolay, a once-daily topical cream for the treatment of papulopustular (subtype II) rosacea.