Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Purchases 35,169 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 35,169 shares of the stock in a transaction on Tuesday, December 30th. The shares were bought at an average cost of $41.99 per share, for a total transaction of $1,476,746.31. Following the purchase, the insider owned 421,242 shares in the company, valued at $17,687,951.58. This trade represents a 9.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Wednesday, December 31st, Opaleye Management Inc. acquired 22,497 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $41.99 per share, with a total value of $944,649.03.
• On Monday, December 29th, Opaleye Management Inc. bought 8,638 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $41.85 per share, for a total transaction of $361,500.30.
• 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 Tuesday, December 23rd, Opaleye Management Inc. purchased 260 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $41.66 per share, with a total value of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. acquired 1,019 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $41.15 per share, for a total transaction of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. acquired 2,735 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost 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 shares were purchased at an average cost of $37.81 per share, with a total value of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. bought 4,340 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Stock Performance

NASDAQ SLGL traded down $0.32 on Wednesday, reaching $42.14. The company’s stock had a trading volume of 37,253 shares, compared to its average volume of 22,228. Sol-Gel Technologies Ltd. has a twelve month low of $4.02 and a twelve month high of $52.26. The stock has a market cap of $117.57 million, a PE ratio of -12.93 and a beta of 1.36. The firm’s 50 day moving average is $38.66 and its two-hundred day moving average is $26.42.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLGL. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Sol-Gel Technologies in a research note on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday. Wall Street Zen cut shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Zacks Research raised shares of Sol-Gel Technologies to a “hold” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.