Opaleye Management Inc. Purchases 312 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 312 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was acquired at an average cost of $71.99 per share, with a total value of $22,460.88. Following the completion of the acquisition, the insider directly owned 490,312 shares of the company’s stock, valued at $35,297,560.88. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, July 2nd, Opaleye Management Inc. acquired 1,400 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $71.97 per share, for a total transaction of $100,758.00.
• On Wednesday, May 13th, Opaleye Management Inc. acquired 1,937 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $66.87 per share, for a total transaction of $129,527.19.
• On Tuesday, May 12th, Opaleye Management Inc. acquired 1,500 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $67.98 per share, with a total value of $101,970.00.

Sol-Gel Technologies Stock Performance

Shares of NASDAQ SLGL opened at $74.01 on Friday. Sol-Gel Technologies Ltd. has a 1-year low of $6.96 and a 1-year high of $97.97. The company has a market cap of $207.97 million, a PE ratio of -217.67 and a beta of 1.12. The company has a 50-day moving average of $72.79 and a two-hundred day moving average of $69.80.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.86) by $1.55. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.90 million. As a group, equities research analysts forecast that Sol-Gel Technologies Ltd. will post -9.1 earnings per share for the current year.

Institutional Trading of Sol-Gel Technologies

Institutional investors have recently bought and sold shares of the business. Affinity Asset Advisors LLC bought a new stake in shares of Sol-Gel Technologies during the 1st quarter valued at $2,773,000. Opaleye Management Inc. boosted its position 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 purchasing an additional 248,904 shares during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies during the fourth quarter worth $748,000. Institutional investors and hedge funds own 26.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SLGL shares. Mizuho initiated coverage on Sol-Gel Technologies in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price objective on the stock. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Weiss Ratings lowered Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. Wall Street Zen cut Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, TD Cowen assumed coverage on Sol-Gel Technologies in a research report on Friday, May 29th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.50.

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.