Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Acquires 4,340 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 4,340 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was acquired at an average price of $37.37 per share, for a total transaction of $162,185.80. Following the completion of the transaction, the insider directly owned 368,440 shares of the company’s stock, valued at approximately $13,768,602.80. This trade represents a 1.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 Wednesday, December 3rd, Opaleye Management Inc. bought 2,524 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $37.81 per share, for a total transaction of $95,432.44.

Sol-Gel Technologies Price Performance

Sol-Gel Technologies stock opened at $39.78 on Thursday. The stock has a market cap of $110.83 million, a price-to-earnings ratio of -12.20 and a beta of 1.36. The firm has a 50-day moving average of $36.61 and a two-hundred day moving average of $21.70. Sol-Gel Technologies Ltd. has a 1 year low of $4.02 and a 1 year high of $52.26.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Thursday, November 20th. The company reported ($2.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.30 million. Research analysts expect that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SLGL shares. Zacks Research upgraded Sol-Gel Technologies to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen cut shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Friday, November 28th. Finally, HC Wainwright upped their price objective on Sol-Gel Technologies from $6.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sol-Gel Technologies presently 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.