Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Acquires 22,497 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 22,497 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were purchased at an average cost of $41.99 per share, with a total value of $944,649.03. Following the purchase, the insider owned 443,739 shares of the company’s stock, valued at approximately $18,632,600.61. The trade was a 5.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large 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 Tuesday, December 30th, Opaleye Management Inc. acquired 35,169 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $41.99 per share, for a total transaction of $1,476,746.31.
• On Monday, December 29th, Opaleye Management Inc. bought 8,638 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $41.85 per share, with a total value of $361,500.30.
• On Friday, December 26th, Opaleye Management Inc. purchased 1,626 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $41.68 per share, for a total transaction of $67,771.68.
• On Tuesday, December 23rd, Opaleye Management Inc. purchased 260 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $41.66 per share, for a total transaction of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. acquired 1,019 shares of Sol-Gel Technologies stock. The stock was acquired 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 acquired at an average cost of $40.37 per share, with a total value of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. bought 2,524 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $37.81 per share, for a total transaction of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. purchased 4,340 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $37.37 per share, with a total value of $162,185.80.

Sol-Gel Technologies Price Performance

NASDAQ SLGL traded down $0.32 during trading on Wednesday, hitting $42.14. 37,253 shares of the company’s stock traded hands, compared to its average volume of 22,228. The stock has a fifty day moving average of $38.66 and a two-hundred day moving average of $26.42. Sol-Gel Technologies Ltd. has a 12-month low of $4.02 and a 12-month high of $52.26. The firm has a market cap of $117.57 million, a P/E ratio of -12.93 and a beta of 1.36.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results 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 during the quarter, compared to the consensus estimate of $0.30 million. As a group, analysts expect that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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