Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Purchases 1,626 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 1,626 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were acquired at an average price of $41.68 per share, with a total value of $67,771.68. Following the acquisition, the insider owned 377,435 shares in the company, valued at $15,731,490.80. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tuesday, December 23rd, Opaleye Management Inc. purchased 260 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $41.66 per share, for a total transaction of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. purchased 1,019 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $41.15 per share, with a total value 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. acquired 2,524 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $37.81 per share, for a total transaction of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. acquired 4,340 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $37.37 per share, with a total value of $162,185.80.

Sol-Gel Technologies Stock Performance

Sol-Gel Technologies stock traded up $2.69 during midday trading on Monday, hitting $44.54. 36,276 shares of the company’s stock were exchanged, compared to its average volume of 21,877. The company has a market cap of $124.27 million, a PE ratio of -13.66 and a beta of 1.35. The firm has a 50-day moving average of $38.52 and a two-hundred day moving average of $25.91. Sol-Gel Technologies Ltd. has a 12 month low of $4.02 and a 12 month high of $52.26.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly 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). The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.30 million. Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%. As a group, equities analysts expect that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on SLGL shares. Zacks Research upgraded shares of Sol-Gel Technologies to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Monday, December 22nd. Finally, HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Sol-Gel Technologies in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.