Opaleye Management Inc. Purchases 2,524 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average price of $37.81 per share, for a total transaction of $95,432.44. Following the acquisition, the insider directly owned 370,964 shares of the company’s stock, valued at $14,026,148.84. This trade represents a 0.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% 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 Monday, December 1st, Opaleye Management Inc. acquired 4,340 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $37.37 per share, with a total value of $162,185.80.

Sol-Gel Technologies Stock Up 2.7%

Shares of Sol-Gel Technologies stock traded up $1.05 during trading hours on Wednesday, hitting $39.78. The company’s stock had a trading volume of 30,152 shares, compared to its average volume of 22,418. Sol-Gel Technologies Ltd. has a 1-year low of $4.02 and a 1-year high of $52.26. The business has a fifty day moving average of $36.37 and a 200 day moving average of $21.58. The company has a market capitalization of $110.83 million, a PE ratio of -12.20 and a beta of 1.36.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Thursday, November 20th. The company reported ($2.13) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($0.04). Sol-Gel Technologies had a negative net margin of 47.37% and a negative return on equity of 33.61%. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.30 million. On average, sell-side analysts anticipate that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLGL has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Friday, November 28th. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. HC Wainwright upped their price target on Sol-Gel Technologies from $6.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Zacks Research upgraded shares of Sol-Gel Technologies to a “hold” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Sol-Gel Technologies has an average rating of “Hold” and a consensus price target of $50.00.

Sol-Gel Technologies Company Profile

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.